What to Do When Faced with an IRS Garnishment
Seizing Your Money
The IRS has the legal authority to seize your property in order to settle a tax debt. The governmental entity can garnish your wages, get money from your bank account or other financial institutions, or seize your vehicles, real estate other personal property in order to sell them. All this can be done to settle your debts.
Settling a Debt
At first, the IRS will send you several notices in the mail, including notices on taxpayer rights. If you decide to accept an installment plan to pay taxes, filling out a Form 9465 could be the next step.
But for anyone who receives an IRS bill called a “Final Notice of Intent to Levy and Notice of Your Right to A Hearing,” it is important to take steps immediately to protect your money and property.
If people do not pay their taxes — or make an arrangement to settle a debt — the IRS will do it for you. This could not only affect your income but your retirement accounts, dividends or even your life insurance. This time of year, it also means that the IRS could seize any tax return you may be due. It is all available to the IRS.
Years to Recover
If your wages are garnished, that means it could be years before you get back to making a full paycheck again. It all depends on how much you owe and how much you make. The IRS is the government’s means of getting what they say you owe.
Get Help Today
Civic Tax Relief has the help you need if and when confronted by the IRS.
With its roster of tax attorneys, agents, and other tax professionals, Civic Tax Relief stands ready to help you resolve your tax issues, negotiate with the IRS, and understand your options.
If you find yourself in a situation where the IRS comes looking for its money from you or you anticipate some problem in the future, being proactive is the best thing you can do. Contact us today to start the process of protecting your assets.