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Wage Garnishment

IRS Wage Garnishment Overview

IRS Wage Garnishment Overview

Most residents of the United States are required to pay taxes to the Internal Revenue Service. The two primary types of taxes that frequently cause complications for individuals throughout the nation are property taxes and income taxes; however, there are additional types of taxes that must be paid.

If an individual fails to pay the taxes that he/she owes the IRS, the IRS has the right to initiate aggressive tactics to attain these funds. One technique that the IRS frequently employs is IRS wage garnishment. The IRS has the authority to garnish wages in order to obtain the taxes that an individual owes. This process can occur whether an individual earns a salary or hourly wages. The amount that the IRS levies from an individual's income will often depend on how much he/she earns. 

IRS wage garnishment will not be a surprise when it occurs. The IRS will only use this collection method after an individual has been issued repeated warnings, and letters regarding their debt and the necessary payment. If an individual fails to respond to these warnings and does not pay the taxes that he/she owes, the IRS can garnish wages.

Generally, the final warning that is issued by the IRS will give an individual less than one month to pay his/her debt. If an individual does not have access to the funds necessary to pay his/her debt, he/she can contact the IRS to arrange a payment schedule. However, if no action is taken by the debtor, IRS wage garnishment may be initiated.

A significant portion of his/her income will be levied by the IRS to compensate for the taxes that he/she failed to pay. Therefore, warnings issued by the IRS should never be left unresolved.

 

 

Wage Garnishment Overview

Wage Garnishment Overview


Wage Garnishment Background
If an individual acquires debt that he/she is not able to repay, one collection technique that lenders may employ is wage garnishments. Wage garnishment occurs when a portion of an individual’s income is levied in order to address the debts that he/she has acquired. The funds that are deducted are used to repay creditors. The IRS also has the authority to practice wage garnishments. 

Wage Garnishment Laws

The garnishment of wages can adversely affect an individual’s ability to support him/herself. This is especially true if state wage garnishment laws allow extensive quantities of an individual’s income to be garnished to repay creditors. Therefore, the federal government has instated wage garnishment laws intended to protect debtors, by limiting the amount that can be deducted from his/her earnings. 


IRS Wage Garnishment
IRS wage garnishment may occur when an individual fails to pay his/her taxes. The Internal Revenue Service is responsible for collecting taxes from residents of the United States. If an individual does not pay his/her taxes, even following repeated warnings, the IRS can initiate wage garnishment, in which a portion of an individual’s income will be levied to pay the taxes that he/she owes.