What You Should Know About Wage Garnishment Release
Posted by LWM Team on Thu, Feb 25, 2010
Many people will find themselves in a position at some time in their lives when they owe the IRS back taxes. It's easy to ignore this and hope it will simply go away but it won't. If you haven't made any kind of agreements with the IRS, chances are you'll end up with a wage garnishment. A wage garnishment is when they take a percentage (25% usually) before you get your paycheck. The first time this happens, you'll be very unhappy, especially if all of your utility bills are due. A wage garnishment release can help you remain in a stable financial position.
To get a wage garnishment release, you'll have to provide a good reason for it to the IRS. A good example is if you made $3000 per month before the garnishment, afterwards you only made $2250, and you have monthly bills totaling $2500. Obviously, the IRS will realize this isn't going to work and may lead to you having to sell your property. They don't want that to happen and will usually authorize the wage garnishment release if you comply with a payment plan.
Before you start this process you will want to get all needed documents in order and these are: Paycheck stubs, bank statements, bills, property appraisals, and proof of other types of income such as child support, worker's compensation, and other income types. The more you provide, the better your chances.
Using a service or tax attorney is the best way to get a wage garnishment release. They will not charge you an arm and a leg because they are trying to get you tax relief and understand the burden you already have financially. The Internet is a great resource to find a service that will do this for competitive prices.