Wage Garnishment and Bank Levy Release
It’s no secret that the IRS is committed to collecting unpaid taxes—just look at the infamous case of Al Capone, who was ultimately jailed for tax evasion rather than his other crimes.
To recover unpaid taxes, the IRS uses enforcement tools like wage garnishment and bank levies. Taxpayers facing these measures often seek to have them lifted so they can explore alternative solutions to settle their tax debt.
What are Wage Garnishment and Bank Levies
Wage garnishment and bank levies are legal methods the IRS uses to collect unpaid taxes by seizing a portion of your income or withdrawing funds directly from your bank account.
With wage garnishment, the IRS deducts a portion of your paycheck before you receive it, leaving you with only a set amount based on your tax filing status and number of dependents. While the goal is to recover the owed taxes while allowing you to cover basic expenses, garnishments often take a significant portion of your income, making it difficult to manage essential costs.
A bank levy, on the other hand, freezes your bank account for a set period. After this hold expires, the bank is required to send the available balance to the IRS to cover your tax debt.
How to get out of Wage Garnishment and Levies
The IRS wage garnishment and bank levies may increase the daily stress of taxpayers. The IRS is prepared to work with taxpayers to resolve tax issues that lead to wage garnishment and levies. Taxprofix can represent you before the IRS and propose most beneficial relief options to the IRS and have your wage garnishment or bank levies released