If you have unpaid taxes owed to the IRS and does not communicate with them how you plan to settle such liability, be prepared to face wage garnishment, or otherwise called wage levy. This is one of the IRS’ favorites enforced collecting method. Wage levies are filed with your employer and remain in effect until the IRS notifies your employer that the wage garnishment has been released.
Your job can be placed in danger when you are implemented such serious tax collecting method. Many employers will view their workers who have problems with their taxes with disapproval. Also, most wage levies take so much money from your paycheck that you will not have enough money to live on. Your basic and necessary expenses could not be satisfied causing stress in your home and affecting your working atmosphere.
Typically, the IRS will send the IRS Notice of Intent to Levy Wages to the taxpayer first in an IRS certified letter. The IRS Notice of Intent to Levy Wages is the first of two IRS letters that the taxpayer will receive prior to having their wages or paycheck garnished by the IRS. If the taxpayer does not act on the first letter, the IRS will follow up with a second letter which is the Final Notice of Intent to Levy Wages.
Many taxpayers ignore the letters sent to them by the IRS notifying them of the wage garnishment. Unfortunately, if you do not take any action and ignore the notices, the wage levy is imminent. If an employer notifies you that they have received a wage garnishment from the IRS, it is important to get a copy of the IRS wage levy from the employer so that you can fill out the forms to reduce the amount of money that the IRS will garnish from your paycheck.
The good news is that an IRS wage garnishment can be stopped or lifted if it happens. It is not automatic, and it requires some work, but it can be done if appropriate action is taken by the taxpayer. Additionally, the IRS mandates that taxpayers be in tax compliance with their tax returns before they will consider lifting the IRS wage garnishment or IRS wage levy.
In conclusion, having your wages garnished by the IRS can most certainly cause a financial hardship for you, so prompt assistance from a competent tax professional is vital to help you avoid problems or to help resolve them if the garnishment or levy is already in motion.
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