IRS Wage Garnishment: What that Means to You


by Jill Bridges on February 22, 2019  0 Comment

IRS Wage Garnishment: What that Means to You
The IRS can garnish your wages if you fail to pay your back taxes in a timely manner. Although a certain portion of your income is exempt from garnishment, a substantial amount can be seized. You can stop wage garnishment in several ways, such as by requesting an installment agreement from the IRS. When you owe back taxes and haven't made any steps to pay off your debt, the IRS has several methods it can use to collect the debt, including wage garnishment. IRS wage garnishment means that the agency will take a certain portion of your paychecks until your back taxes have been paid in full. If you want to avoid having your wages garnished, it's important to learn ...

A Guide to State Bank Garnishment Laws


by Jill Bridges on December 02, 2018  0 Comment

A Guide to State Bank Garnishment Laws
If a creditor has obtained judgment against you, they may try to seize money from your bank account or wages to pay an overdue debt. This is known as bank account garnishment, wage garnishment, or a levy. In most cases, this requires a court order to proceed, but the federal government can issue a levy without the involvement of a court. Fortunately, there are many specific laws at the federal and state levels that apply to levies and may protect your funds. Bank Account Garnishment Process In the event that a bank receives a notice of a levy, they are required to immediately freeze the debtor's account. When this occurs, you're unable to withdraw money, and if you don't have ...

5 Ways to Stop IRS Wage Garnishments


by Staff Writer on October 09, 2017  0 Comment

5 Ways to Stop IRS Wage Garnishments
Did you know IRS wage garnishments can be levied if you have unpaid tax debts? It’s scary. And it’s true. But the good news is that the IRS is typically slow to garnish wages. It’s an expensive, time-consuming process. They would much rather you just pay your taxes. (Wouldn’t you prefer that, too?) Unfortunately, things happen. Life gets in the way. And sometimes the fees and penalties have added up to the point where you just can’t pay your entire tax debt. You can still avoid IRS wage garnishments using any one of these seven methods. But first… Understand What IRS Wage Garnishment Means With IRS wage garnishments, the Internal Revenue Service can take a percentage of your wages until ...

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