Stopping Wage Garnishments
Stopping a garnishment enforced by the Internal Revenue Service (IRS) can be done by utilizing several options. The main objective is to settle what you owe in taxes by working with the IRS or a tax expert to determine the best solution for your situation. You can either pay what you owe in full or apply for a payment plan that puts you in good standing so that the IRS garnishment assignment stops.
Paying what you owe in full seems pretty obvious but it is common for taxpayers to not have this option available due to lack of funds. If you are unable to pay what you owe in full, you may qualify for an installment agreement that lets you make monthly payments. An offer in compromise is another payment option that allows you to make an offer to the IRS on what you can pay based on your finances. Many taxpayers opt to work with a tax attorney or tax expert to help them understand the complete process in full detail.
Other Methods to Stop IRS Garnishment
Getting Declared Uncollectible
There are other methods available if you don’t qualify for either option previously mentioned. If the IRS wage garnishment leaves you with little funds to support yourself or your family you may get declared uncollectible. You have to apply for this status with the IRS but it may delay collection efforts until your financial situation improves.
Bankruptcy is another option for those who qualify and it may stop the wage levy permanently or temporarily. Contact us to set up a free consultation to go over your finances to see if you can benefit by filing.