Irs Wage Garnishment: Can The Irs Really Take My Wages?

Every minute you worry, dreading the letter or phone call that must be coming. And then one day, there it is, in your mailbox. You already have financial difficulties, but they are about to become a lot worse. You are hardly making enough cash to feed your family, but now you have to give the government part of your paycheck every week beyond your normal taxes.

The message from the IRS says the very thing that you have been fearing: wage garnishment.

Anyone in this position has many questions. Can the Internal Revenue Service really take my money? How much money can they take? Does my state law protect me? Isnt there anything I can do about it? A basic primer in the laws regulating wage garnishment will answer all of these questions.

Uncle Sam really can take your paycheck, but only part of it. They will send a letter to you and your boss, and the money will come right out of your pay. The money taken will be a portion of your disposable income, which is the money remaining after your regular payroll taxes are deducted. Federal tax law says that the highest amount that can be levied is 25% of disposable income, but some states have limits that are lower. Florida, for example, exempts anyone from garnishment if they are supporting a child, and New York limits the levy to 10%.

You can take charge and stop this from occurring, however. As soon as you get your first Notice and Demand for Payment contact the IRS and set up an appointment. Ignoring them wont make them disappear, and you are more likely to be able to come to an agreement if you dont stall until the wage garnishment has started. Even after you have received the Final Notice you still have 30 days to schedule a hearing before the wage garnishment starts.

About the Author:
Dont try to handle the Internal Revenue Service by yourself. They will have Federal income tax professionals handling your case and so should you. Don't wait! Consult immediately with IRS debt specialists or get more information about IRS wage garnishment.

Article Originally Published On: http://www.articlesnatch.com

Tags: IRS Wage Garnishment

, Garnishment of Wages

, Garnishment Laws

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