If you owe back taxes to the IRS, they will eventually attempt to garnish or levy your wages. This will happen after the IRS has sent you three notices for full payment, followed by a Final Notice of Intent to Levy. Payment in full includes the penalties and interest that accrued on your tax liability since you filed the return or they filed on your behalf. If the IRS feels that you are ignoring your tax liabilities they will take collection action and enforce a wage levy. To determine the amount of your wage levy or garnishment, the IRS uses your exemption amount based on your filing status.
While your wages are being garnished your tax debt is still accruing Interest and Penalties that the IRS will expect you to pay unless you are able to negotiate other terms of agreement to settle your debt.
Having your wages garnished does not mean that you are on a payment plan with the IRS! Your tax debt continues to accrue interest and penalties while your wages are being garnished and they can levy your bank accounts or other sources of income. Coast One Tax Group can negotiate with IRS agents to have your wage levy released or modified until a resolution is reached. However, this isn’t possible for every situation. Contact Coast One Tax Group immediately if you have received a Final Notice of Intent to Levy from the IRS.
Coast One Tax Group is here to fight for you! We have years of experience in dealing with the IRS, and we’re confident that we can help you.
If you owe $10,000 or more in back taxes to the State or IRS, the team of tax experts at Coast One Tax Group is here to help.