Living
from paycheck to paycheck is all too common these days among people
who have small or average incomes and large spending. They may be
paying for necessities or for luxuries, but sometimes, they may only
be trying to get rid of an old debt or paying off a loan. It’s hard
enough to make ends meet, so what more if the IRS imposes wage
garnishment because of back taxes?
Fortunately,
you can find ways to prevent the IRS from taking some of your income
regularly, or to stop wage garnishment once you’re made aware that
it’s happening. In these cases, you may get professional IRS wage
garnishment help from experienced tax lawyers. Your lawyer can
negotiate for filing or payment extensions, or arrange for an
installment plan. You may still incur additional fees, like interests
or late payment penalties, but at least, you will have additional
time or you can have a say on setting the terms of your payment plan.
Of
course, you may still find that asking for a few months extension or
committing to an installment plan may still be unaffordable,
especially if you have a pile of debt and other financial
responsibilities. Fortunately, with your tax lawyer’s guidance and
instructions, you can check if you’ll be qualified for an offer in
compromise (OIC). You will need to undergo a rigorous eligibility
screening, but if you qualify, an OIC will allow you to settle your
tax debt at significantly lower costs.
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