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IRS tax lien Is it possible to get enough money to live on when you have a wage garnishment frm the IRS?
Is it possible to get enough money to live on when you have a wage garnishment frm the IRS? I know they can take everything, but is it possible to get some of the garnishment lifted and pay back over time, especially if you're going to be working for years anyway?
7 Answers
- Max HooplaLv 78 years agoFavorite Answer
If your wages are the subject of a Notice of Levy on Wages, Salary and Other Income the amount that is exempt is enough to make sure you can buy groceries and very little else while you make peace with IRS. If you have been given notice that IRS intends to levy don't wait until it does. You can get a release and be granted an installment agreement that will pay the liability off or, if paying now would cause a hardship as defined by IRS collection can be deferred until your situation improves but you or a representative working for you has to call IRS and make arrangements.
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Source(s): I am an enrolled agent, licensed by the Treasury Department to represent taxpayers the same as attorneys and CPAs. I specialize in representing taxpayers who owe a lot of back tax or unfiled returns. Your big mess is my ordinary day at the office. If you want additional help you can send email through my profile. - Anonymous5 years ago
The IRS does not garnish wages, they levy them. Some might say that that's a question of semantics but a garnishment requires a court order while a levy is an administrative action by the IRS. The levy protects the government's interest in the taxes that you owe. The IRS seldom seizes the family home (but second homes, RVs etc. are all fair game) however if you do not make an effort to set up a payment plan to clear the debt then they will eventually resort to enforced collection via levy of your wages (or accounts receivable if you're self-employed) and levy of any bank or investment accounts.
- Ms. Angel..Lv 78 years ago
The wage levy is caused by someone ignoring IRS notices, and refusing to pay back what is owed.
Simply call IRS at 1-800-829-7650 and work out a payment plan and the levy could be released.
good luck
- ?Lv 78 years ago
Certain limited amounts for this purpose and time in your life so you might just have to change your lifestyle and learn to live more frugally at that time in your life PK.
Hope that you find the above enclosed information useful. 05/16/2013
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- JudyLv 78 years ago
Enough to live on, but very frugally. The IRS will decide what's enough, you can't get some of it lifted.
- A HunchLv 78 years ago
The IRS does not take everything.
Here is a document about how much they will garnishment.
- troLv 78 years ago
if you are being garnished it is not likely this can be adjusted, but you can certainly try