Methods to Stop IRS Wage Garnishment

If your wages are being garnished by the IRS you may be interested in learning how you can stop the wage levy. There are a few ways you can stop the levy, the method you choose should be based upon your tax and financial situation. Below are the 5 most common methods of stopping wage garnishment.

1. Pay taxes owed in full - Once the taxes are paid in full the wage garnishment will be immediately stopped. If you cannot pay in full you can consider borrowing from friends and family, selling some assets, having a garage sale or even refinancing your home.
2. Enter into an Installment Agreement - An installment agreement allows you to pay back your taxes owed in monthly increments. Once your installment agreement has been accepted your wage garnishment will be stopped. If you can remain current on your payments you will remain in good standing with the IRS. If you default the IRS may begin the levy again.
3. File for an offer in compromise - An offer in compromise allows a taxpayer to settle their taxes owed for less than the total amount. The IRS is very strict in who can qualify for this and they must meet a strict set of requirements. Once you file for an offer in compromise the levy will be halted until your case has been reviewed. If your offer is accepted then the IRS will not start back the garnishments.
4. Prove Financial Hardship - The IRS will collect from taxpayers even if they can’t afford to have that money taken away from them. The IRS does have rules as to how much money a taxpayer needs to live. If you can prove to the IRS that by taking your funds it will create financial hardship, they will halt the levy and stop collection actions until a future date and your financial situation has improved enough to begin collections again.
5. Get a professional to help - A tax professional can provide great benefit to a taxpayer being faced with IRS wage garnishment. Most taxpayers have trouble resolving wage levies on their own because the IRS is hesitant to work with the taxpayer this late in the collection process. The IRS has already give the taxpayer many chances to resolve their tax problem and by the time they issue the levy they have lost all hope of the taxpayer resolving the problem. By hiring a tax professional this gives a sign to the IRS that you actually do want to resolve your tax problem and you have taken a step towards doing so. With that being said, the IRS does tend to give more favorable decisions to tax professionals than an ordinary taxpayer with a major tax problem.

Wage levies are a series situation and it is important to act quickly to limit the effect of the levy. The IRS does provide many mechanisms to taxpayers in order to get back into good standing, no matter how bad their financial situation is.

Stop IRS Wage Garnisment
Find more information on stopping IRS wage garnishment. There are many different ways to stop the garnishment, even ways to negate the effects of the levy.