IRS Wage Levy Wage Garnishment!
If you owe back taxes to the IRS, you may be at risk of an IRS Wage Levy, also known as Wage Garnishment. This means the IRS can seize a portion of your wages to satisfy your tax debt. IRS Wage Levy can be a stressful and overwhelming experience, but understanding your options and seeking professional help can resolve the issue.
How IRS Wage Levy Works
The IRS can issue a Wage Levy to your employer, requiring them to withhold a portion of your wages and send it directly to the IRS. This can continue until your tax debt is paid in full. IRS Wage Levy can be a significant burden, taking up to 70% of your disposable income.
Consequences of Ignoring IRS Wage Levy
Failing to address an IRS Wage Levy can result in:
- Continued seizure of your wages
- Increased tax debt and penalties
- Legal action, including additional levies and seizures
- Even criminal charges in extreme cases
How to Address IRS Wage Levy
To resolve an IRS Wage Levy, you must:
- Address the underlying tax debt
- Negotiate a release of the levy with the IRS
- Ensure compliance with all tax laws and regulations