What Is Wage Garnishment and How Could It Impact You?

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Tax Resolutions Podcast with Tom Scott

Education


What are tax liens and levies? I’m going into detail about both today.Click here for a FREE tax relief consultationCheck out our FREE tax resource libraryIf you don’t pay your debts, the IRS can use wage garnishment to take most of your paycheck away. Ignoring your taxes can lead to the IRS collecting them instead. A wage garnishment or levy will only occur after you have received many notices and had many opportunities to handle your taxes on your own accord. If a wage garnishment does proceed, the IRS will decide how much to take. This could be up to 75% of your entire check, leaving you nowhere near enough money if you live paycheck to paycheck like most Americans.Ignoring your taxes can lead to the IRS collecting them instead.However, there are ways to negotiate with the IRS to avoid a wage garnishment. Tax professionals can help put forward an installment plan or settlement offer. As professionals, we can take into account your living costs to keep your payments to the IRS under control and within your budget. Our team gives you a voice in what you can pay the IRS. We can get wage garnishments removed or greatly reduced. So, if you have tax problems, you must protect yourself by hiring a professional. If you have any other questions, would like more information, or would like to have a consultation at no charge, feel free to give me a call or send me an email. I look forward to hearing from you soon.