If you have received a wage garnishment notice that the IRS is going to apply a deduction to your paycheck, it means that the IRS can notify your employer that you have a back tax debt. Your employer is then required by law to send a significant portion of each of your paychecks directly to the IRS to offset the debt.
Keep in mind that if you do not respond, the IRS will continue to garnish your paycheck until your debt is paid in full.
The tax professionals at BAYSHORE CPA’S, P.A. located in Mooresville, NC will work with the IRS to negotiate a full or partial release of the wage garnishment if you qualify for relief. There are options other than wage garnishment for collecting back taxes. For example, Bayshore CPA’s may be able to arrange an installment agreement so you can pay the IRS a specified dollar amount every month until the debt is paid. Once the installment agreement is in place, an offer-in-compromise may be negotiated to settle your debt for less than the actual liability, depending on your individual financial circumstances.
Another option is to be placed in a “currently not collectible” status in which you may not have to make payments to the IRS at all, again depending on your individual financial circumstances.
Your peace of mind is our motivation. If your wages are being levied or you have received a notice of intent from the IRS to garnish your wages for back taxes:
Call our office now located in Mooresville, NC at 704-660-9317 to schedule your consultation.