When you owe back taxes to the IRS, they have many options of collecting money owed to them. Many are drastic collection methods that can be detrimental to your finances and credit rating. One of the most detrimental methods is the garnishment of wages. IRS wage garnishments should not be taken lightly since they can jeopardize your employment and family life. An IRS wage garnishments are imposed when you ignore to take action when you receive the IRS’ warnings. This is why it is imperative to take action on IRS notices IMMEDIATELY!
Your first notice that you will receive is a CP-297. the first notice of wage garnishment procedures has began. Chances are you are aware that you owe back taxes already, but this is a wake-up-call to act quickly. If you choose to ignore this first notice, the next notice you will receive is a CP-90, the final notice. This give you 30 days to respond. If you choose to still ignore these notices, the IRS will begin wage garnishment procedures. This entire process typically lasts a few month, so it is crucial to ACT FAST!
IRS wage garnishments are not a surprise. If you owe back taxes, you have received several letters: CP 504 “Intent to Levy Assets”, and CP 1058 “Final Notice to Levy.” With your CP 1058, you alwo receive an option for a Collection Due Process Hearing, a chance to meet with the IRS to settle your tax debt. A IRS wage garnishment comes after the IRS has not received a response from the taxpayer. Prompt response to the IRS notices can help you avoid wage garnishment hassles from the beginning.
Most people ignore these notices because they cannot afford to pay the tax debt back to the IRS. The IRS cannot take your entire paycheck. However, you must have a tax professional like our IRS wage garnishment experts with The Trippon Group on your side to negotiate a IRS tax settlement that you can afford to pay back.
Once we have negotiated a settlement amount and payment terms, you must live up to your end of the terms of the agreement. If you do not, the IRS can reinstate the garnishment and possibly take additional steps to collect the amount owed. This is why we strongly encourage any Offer in Compromise be under the direct supervision of an IRS tax debt relief professional.
All of the resolutions discussed above require that you have all of your tax returns filed. The Internal Revenue Service will not consider any type of resolution while you are out of compliance. Compliance means that you do not have any unfilled returns and that you are current with your payments for the current year.
Stop wage garnishment immediately! The IRS wage garnishment experts at The Trippon Group are ready to help. Our IRS wage garnishment experts have years of experience in stopping IRS wage garnishment, and can help solve your IRS tax debt once and or all. DON’T WAIT! Get IRS wage garnishment help today! Contact us for a free consultation at 713-661-1040 or fill out the information below and we will contact you as soon as possible.