Tax Levy and Wage Garnishment Release

If you need to catch up on your taxes, the IRS has the power to impose a levy on your assets. This means they can legally take control of your property and funds in your bank accounts, directly deduct money from your paycheck or retirement account, or even seize your property to cover what you owe in taxes. You can receive assistance from a skilled tax attorney in removing these levies and wage garnishments. If the IRS has notified you about a potential levy or if they've already started taking measures against you, it's crucial to take immediate action to resolve the issue.

There are several types of federal tax levies:

Bank Levy
This is the most frequent type. The IRS can freeze your bank account after sending a Notice of Intent to Levy. They wait 21 days before taking the funds needed to settle your tax debt. This process can repeat if the initial deduction only partially covers your debt.

Wage Garnishment
The IRS may also target your income by deducting a portion of your weekly paycheck to go toward your tax debt. Employers are legally required to make these deductions or face penalties for the amount withheld.

accountantstemplate/ Tax Levy and Wage Garnishment Release

Click & Learn

Levies and Garnishments Are Permanent

IRS Won't Negotiate Releases

Only Full Payment Stops Garnishments

Garnishments Happen Without Warning

Legal Representation is Unnecessary

Levies and Garnishments Are Permanent

Myth

Tax levies and wage garnishments are permanent and can't be lifted.

Fact

Tax levies and wage garnishments can be released with proper action.

IRS Won't Negotiate Releases

Myth

The IRS will not negotiate the release of levies and garnishments.

Fact

The IRS can negotiate and release levies and garnishments under certain conditions.

Only Full Payment Stops Garnishments

Myth

Only paying the entire tax debt can stop wage garnishments.

Fact

Payment plans and settlements can also lead to the release of garnishments.

Garnishments Happen Without Warning

Myth

Wage garnishments happen without any prior notice.

Fact

The IRS provides notice before starting wage garnishments, allowing time to act.

Legal Representation is Unnecessary

Myth

You don't need legal representation to release a levy or garnishment.

Fact

Professional assistance can significantly improve the chances of successful release.

Adult Day Care Coverage

Risk Factors

You may have to pay them for their services from your pocket if you hire a caregiver.

Solution

Policies may cover community care, which usually means adult day care, so you don’t need to pay them all by yourself.

Modifications to House Coverage

Risk Factors

You may need to build a wheelchair ramp for one of your family members because of their medical conditions.

Solution

Some policies may even pay benefits to family members who act as caregivers or cover home modifications, such as adding wheelchair ramps or installing safety devices.

Property Levy
The IRS doesn't hesitate to levy physical assets, which means they can seize items like your car, boat, or home and sell them to pay off your tax debt.

Retirement Account or Social Security Levy:

Even your retirement funds are not safe from IRS levies. The IRS can access accounts such as pensions, profit-sharing plans, stock bonus plans, and IRAs to settle tax debts.

Taking prompt action by consulting with a tax attorney can help start the process of releasing these levies and wage garnishments.

Tax Levy and Wage Garnishment Release

Tax Levy and Wage Garnishment Release