Wednesday, March 11, 2015

Can You Stop Wage Garnishment by the IRS? How?

Is the IRS regularly taking a portion of your income to satisfy your tax debt? The wage garnishment can soon take a toll on your daily finances and prevent you from keeping up with your regular expenses and bills. These deductions can feel pretty unfair or distressing, especially if you’re living from paycheck to paycheck.

Can you stop wage garnishment by the IRS? If you can, how do you accomplish it? These are some of the potential solutions you must discuss with an experienced tax attorney.

Eliminating Wage Garnishment

There are certain things that can exempt you from wage garnishment, and you must claim these exceptions if they are present. For instance, if you’re the head of your household (where you provide at least half of the support for a child or any other dependent), or if you’re relying on your social security or disability benefits as your income, a full exemption would be possible.

Reducing Wage Garnishment

If total protection of all your income sources is not possible, you can also explore other ways to reduce the wage garnishment. With a tax lawyer, you can determine if the IRS is taking too much of your wages (depending on your state’s set limits) and negotiate, so they would lower the amount they’re collecting or grant you an installment payment plan. You may also check if you can apply for other tax debt resolutions like an offer in compromise.

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