Serving North & South Carolina
Garnishments, Levies & Seizures
Stop IRS Collection Actions Before They Take More From You
IRS Collection Relief
Protect Your Income, Bank Accounts and Property.
A wage garnishment levy can force your employer to pay the IRS for back taxes owed by you before you get paid. Just as with a tax lien, the IRS uses a wage garnishment and other levies as a way to collect what you owe in taxes. We have dealt with many clients who have ignored those IRS letters threatening to levy their bank accounts or garnish their wages, because most thought it would never happen. In just about every case we have resolved, the IRS has explained that a wage garnishment and/or levy is considered as the option of last resort.
Basically, if you ignore those IRS notices, the IRS will eventually garnish your wages or hit your bank account to “wake you up” and force you to deal with the issue.
By code, if your wages are garnished, the IRS can take all but $812 per month if you are single, and all but $1312 if you are single, and all but $2625 if you are married. As you can see, it doesn’t matter how much you make and the IRS garnishment is not limited to a percentage of your income. The IRS is only required to leave you and amount equal to the standard deduction reported on your most recent tax return”. The rumor that the IRS can only garnish 25% is simply not true. The IRS can take much more than 25%. Like most tax situations; until you deal with the underlying tax issue, the garnishment and/or levy will continue until it is resolved.
If you are under a wage garnishment or bank account levy, or if you have received that threatening notice informing you that it will happen soon, call us today. It is much easier to stop a garnishment or levy action before it starts than it is to stop one once the IRS has begun the process. As with every solution, the sooner you deal with the problem, the easier the solution will be.
Bank Levy
The most common way for the IRS to seize your money. If you have received a Bank Levy notice, call us TODAY. You have certain rights to have the Levy released, but after 21 days after the notice, you lose those rights and once the money has been remitted to the IRS, it is virtually impossible to have it returned. On average it takes us about 10 days to have a bank levy released, so if you decide to call us on day 20, we probably will be unable to have the levy released.
IRS Seizures
A seizure of property, either real or personal, is very similar to a levy, except the thing seized is not money. The same notices must be sent to the taxpayer for the seizure to be legal. If the seizure is legal, the IRS can sell the property seized and keep all of the money. To apply to the taxes owed.
Frequently asked questions
Don’t Wait for IRS Collection Action to Disrupt Your Life.
If you’re facing a wage garnishment, bank levy, or potential IRS seizure, taking action sooner can make a difference. Expert Tax Solutions can help you understand your situation, communicate with the IRS, and determine the appropriate path toward resolving the underlying tax problem.