ATR Tax Blog

What to Do If IRS Garnishes Your Wages | Aversano Tax Resolution

Fri, 22 May 2020 17:32:09 GMT

I f you have recently had your wages garnished by the IRS, you are probably looking for a clear path forward. An IRS wage garnishment is usually only placed of taxpayers who have avoided IRS letters and notices for some time. We get it, dealing with an IRS tax debt is not an easy thing to deal with. Thankfully, dealing with an IRS wage garnishment can be resolved in several simple steps.

1. Set up a Payment Plan

You simply call the IRS at the toll-free number 1-800-829-1040 , and setup a payment plan which will take the place of an IRS wage garnishment. Now, this is easier said than done, because of how much you be required to pay each month based on your debt.

Often the amount you will be required to pay will be similar if not equivalent to your IRS wage garnishment. Therefore, it helps to have trained tax professional who can negotiate with the IRS to setup a payment plan you can afford. With an affordable payment plan in place and your mind at ease, you will no longer has to worry about another IRS wage garnishment

2. Submitting an Offer in Compromise

Although this arguably takes more time to complete, and IRS Offer in Compromise is the only way to significantly lower how much you owe. To learn more about how an Offer in Compromise works check out our article on how to submit an IRS OIC.

Once your accountant determines that you will likely qualify for an Offer in Compromise, he/she will prepare all of the necessary documents for submission. Once your Offer in Compromise documents are in the queue, your IRS wage garnishment can be lifted upon request with the IRS collections department.

3. Entering into a CNC Status

Entering a CNC(or Currently Non-Collectible) Status will suspend all IRS collection activities on your account for a period of two years. This will not remove your IRS debt and interest will accrue on the debt, but it can be a nice break for some taxpayers to get their finances in order. This status will suspend an IRS wage garnishment as well and will remain in place for two years until it is either renewed or expires.

To learn more about how to request a CNC Status please refer to our article on entering into a CNC status.

Overall, there are a number of potential avenues that one can take to have an IRS wage garnishment lifted. Our best advice is to speak with your accountant of tax preparer to see which situation will be pertain to your circumstances.

If you wish to speak with us further on dealing you’re your IRS wage garnishment, feel free to give us a call for a free consultation and let’ see if we can help give you peace of mind.

For more information on IRS Wage Garnishments , you can always check out our services.

How to Get Rid of an IRS Tax Lien or Levy | Aversano Tax Resolution

mikeaversano1969@gmail.com (MIke Aversano) — Wed, 20 May 2020 17:50:29 GMT

Your IRS Tax Lien Options

So, the IRS has placed a tax lien on you. Now what? What are the next steps? What does this mean and how can I deal wit this? The good news is, we can help identify the next steps so you can deal with your IRS tax lien.

If you’re asking yourself, what is a tax lien? An IRS Federal Tax lien is a like a marker that the IRS places on your home or other large assets to prevent you from selling them to claim their equity. Thankfully, as long as you don’t plan on selling your home in the near future. An IRS federal tax lien will only serve as a warning and is not permanent. But it does not mean that you are out of the woods yet.

Here are the steps that you will have to take in order to deal with your IRS federal tax lien.

The first step is to make sure you have filed all your tax returns that you are required to file. Having all of your necessary returns filed means you are in “tax compliance” with the IRS. Once you are “in compliance” you are the one step closer to dealing with your IRS tax lien.

The next step is for us to call the IRS collection department on your behalf, to assess the status of your tax lien. If a collection agent has been assigned to your case (which is likely) we will speak with them about what you owe and where you are with the collection department. If the assessment is newer, we have some time to discuss options for settling the debt via and Offer in Compromise*. However, if the federal tax lien pertains to a much older debt, then time is of the essence.

An older IRS tax lien means that the IRS might be pursuing the debt more aggressively due to the statute of limitations to collect. This statute for a standard tax lien is somewhere around 7-8 years. Therefore, it is key to note that every taxpayer’s situation is different, and a tax lien does not give us any indication of a person’s status with the IRS.

The last step is what you qualify for based on your current IRS tax debt. These options range from an Offer in Compromise, to a Reasonable Cause Abatement to setting up a payment plan. Regardless of how your situation should be handled, having a tax expert who can translate your IRS tax lien into plain English, is essential.

Receiving an IRS tax lien can be overwhelming but speaking to an experienced accountant can really be your guiding light to a future without any tax debt burden. Give us a call and settle your IRS tax lien today.

Hope that help in deciding how to get rid of your IRS Tax Lien! You can always check out the IRS Lien page to see what that states as well.

If you would like to schedule a FREE consultation to discuss your tax lien, click here: