Garnishment Tax Levy

Garnishment Tax Levy

Garnishment Tax Levy  

Failure to pay your taxes can result in the garnishment of wages, money being removed from your bank accounts and/or the seizure and sale of your vehicles, real estate and other personal property. It is important to understand the difference between a tax levy and garnishment. Both are tools the IRS uses to collect tax debts from individuals who have failed to file their taxes or have fallen behind on their tax bills.

A garnishment is a collection tool where the IRS can instruct your employer to take a percentage or set dollar amount from your paychecks. Garnishments are generally no more than 25 percent of the disposable income.

A levy is what allows the IRS to withdraw money from a financial account. This is similar to having accounts and assets frozen. This allows them to withdraw any future deposits you make in the account until the debt is satisfied. An IRS levy also permits the legal seizure of property from a taxpayer to satisfy their tax debt. A levy does not mean you are exempt from paying the balance of your tax bill. Once the IRS collects everything they can, you will be billed for the remaining balance plus interest.

The IRS has certain steps it must take before a levy is issued. It must assess the total amount owed and send you a notice demanding payment. If you neglect to pay or refuse to pay, the IRS must then send you a “Final Notice of Intent to Levy” at least 30 days before the levy is applied. This notice must be sent by certified or registered mail.

If you receive an IRS bill titled “Final Notice of Intent to Levy and Notice of Your Right to a Hearing” you may want to contact a tax professional for help and guidance through the process. Before the levy is applied, you do have some options to help stop the levy, future collection attempts and wage garnishment. Look into setting up a payment plan or try to settle the tax debt for less than the original amount. A tax service company can help you determine which method is best for your situation and help you file all forms needed to prevent continued negative action from the IRS against you.

It may also be possible to stop a levy or garnishment if it will cause you financial hardship. This means if the levy will prevent you from being able to meet basic living expenses, you might be given an extension to take care of your tax bill. Financial information will need to be provided to see if you qualify.

If the levy process has already been started, it is not too late. Talk to the IRS directly or get help from a tax company specializing in tax situations similar yours. You might be able to stop future levies and garnishments by either settling the balance or setting up a payment plan.

If you find yourself faced with a “Final Notice with Intent to Levy,” seek professional help right away. The tax professional you work with can help you get through the process and possibly delay and/or stop levies tax problems and garnishment.

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4.8 out of 5 star

10 reviews

Jess T.
2019, July 30, 5:31 pm

Coast one Financial saw my family through

Coast one Financial saw my family through our entire settlement to the end! They did everything they promised, and got us a major settlement savings! My husband and I can\'t thank them enough!

2019, June 20, 1:42 pm

Coast one helped me out when I was up against the IRS

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2019, June 20, 1:31 pm

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2019, May 15, 1:43 pm

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2019, May 3, 1:32 pm

My husband and I had about $40,000 in tax debt

My husband and I had about $40,000 in tax debt from some difficulties we had experienced a few years ago. The *** refused to make payment arrangements with us after we’d broken our past agreement following a job and personal losses. We’d seen these tax relief advertisements but wondered if it would work for us. I got an offer to help us by Coast One Financial Group.. I called them and left a message. An attorney called me back and asked if he told me for a few thousand (about $3000 I think) I he could help eliminate $10’s of thousands of dollars of *** debt. I said i’d Love to but didn’t have enough to pay them. He offered us a payment arrangement that we could afford and we did it. We ended up paying the *** $259.00 in exchange for eliminating $40900 of tax debt. We got the letter this week that our tax lien will be lifted within 30 days. This year we filed our taxes and paid them in full! What a relief and burden was lifted thanks to Coast One Financial and their attorneys. I would recommend them to everyone. They are amazing!

Reply from Coast1Tax :

2019, May 3, 1:32 pm

Thank you!

stephen k
2019, May 2, 1:59 pm

will tell many people to call

was very happy with the outcome will tell many people to call coast one for help and thank you.

Reply from Coast1Tax :

2019, May 3, 1:59 pm

Thank you!

Reginald G
2019, April 3, 2:00 pm

Coast One is the best hands down

Coast One is the best hands down, I would recommend Coast One to anyone who has any *** trouble. Everyone have had the up most respect for me situation and took time to walk me through it every step of the way until things was resolved properly. My hat goes off to the whole team. You guys rock

Reply from Coast1Tax :

2019, April 3, 2:00 pm

Thank you!

Cynthia K
2019, March 25, 2:01 pm



Reply from Coast1Tax :

2019, March 25, 2:01 pm

Thank you!

Ranting with Reg Hollywood
2019, January 15, 1:46 pm

step by step guidance

Thank you so much for your patience and step by step guidance, You guys are great and would recommend anyone who have a IRS problem to you guy. Thanks a million you guys rock. I appreciate everything you\'ve done

S. Atika
2018, August 30, 1:47 pm

I owed $44,000 and walked away paying $123 NO JOKE!

Coast One allowed me to have peace again. I was in debt over my ears and saw no way out. With a little time and patience they took me out of debt and gave me my life back. I owed $44,000 and walked away paying $123 NO JOKE! Thank you to the amazing team at Coast One!

Reply from Coast1Tax :

2018, September 1, 1:47 pm

On Behalf of Coast One, we thank you!

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