One of the reasons you can trust the advice we give you is that we are former IRS agents and managers and have over 60 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the Internal Revenue Service.
You can do this on your own or you can hire a professional firm to do this for you but the work that is involved to stop an IRS wage or bank garnishment is still the same and this is the process.
You can STOP a IRS wage, bank garnishment by contacting the Internal Revenue Service and letting them know of your current financial status and letting them know of your plan of action.
What kind of plan of action is acceptable to the IRS?
1. that you are currently in a IRS tax hardship,
2. you can start making installment payments,
3. you want to file an offer in compromise.
How to determine the plan IRS will accept?
If you owe back taxes to the Internal Revenue Service, the IRS requires of all individual, business, or corporate taxpayers to provide a IRS financial statement.
In the case of individual taxpayers a form 433-F will be required.
You want to make sure you are both honest and accurate in the completion of this financial statement because IRS will verify all the figures you place on that form and they will want supporting documentation. The documentation must include proof of income, your pay stubs, and the IRS will want to all current monthly bills and expenses.
Before the Internal Revenue Service will render a decision on closing and settling your IRS case, IRS will use the national and regional standard tests on your income vs expenses. If you do not have enough income coming in to cover your current expenses IRS has the ability to put you into a current economic tax hardship which means you are currently not collectible.
IRS may look at your case and determine you have more income than necessary living expenses and ask for an installment or monthly payment.
IRS also may look at the whole of your financial statement and determine that you are offer in compromise or IRS tax debt settlement candidate.
Before you go running off filing for offer in compromise you should truly check with a tax professional to make sure you are a qualified candidate before you go spending your money.
Beware of tax firms promising pennies on a dollar. Even though pennies on a dollar are possible it’s best to fill out the IRS pre-qualifier tool for offers in compromise. You can find this form on our website.
Once the Internal Revenue Service goes through of the process of reviewing your current financial statement and comes to a resolution on your case they will immediately stop the IRS wage, or bank garnishment.
This process can all happen within one day. The key is giving to IRS a current documented financial statement. The only thing that slows down the process of getting your IRS wage or bank levy released is the taxpayer by not providing a current financial statement. The key is to act immediately.
If you do nothing at all when you receive a IRS tax bill or tax notice expect enforcement
The enforcement computer system generates all IRS bank levies and wage garnishments. All these enforcement tools used by the Internal Revenue Service systemically generates all notices without a human hand touching the seizure actions.
It is very important to follow up these IRS notices or letters no later than the final notice dates sent by the Internal Revenue Service.
If you fail to respond to the Internal Revenue Service after the L-1058 letter you can expect an IRS bank levy or wage garnishment notice and you may also receive the filing of a federal tax lien.
So if you want to avoid a Bank Garnishment, Wage Garnishment, you had better follow up.
It is important to know all your IRS tax options and remedies and how to close your case short-term and to have a long-term exit strategy.
Contact us today and speak to a tax attorney, CPA, or former IRS agent and manager to fully understand the best way to deal with your IRS problem.
All consultations are free.
We are A+ rated by the Better Business Bureau and we have been in private practice since 1982 and we have over 206 years of professional tax experience.
How to STOP a IRS Wage, Bank Garnishment by IRS, Former IRS Agents
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