Subscribe RSS Feedby Warren Buflet
IRS wage garnishment can have a dramatic affect on your immediate life, but not just in the obvious ways. It will definitely reduce the amount of money coming in each week, but the intermediate and long-term consequences rippling out from that can be devastating and long lasting. But this sad scenario doesn’t have to happen to you.
Most people think about the obvious when they think about the garnishment of wages, a reduction in income, without realizing the true extent of how much the government can take. A single person could be left with as little as $179.81 per week, or a married person $289.42. Immediately your standard of living would decline. Since rent and food have to be the first priorities, frills like cable and internet have to be sacrificed. Electricity and phone service won’t be cut off immediately so maybe those bills can be put aside until next month. If you live in a cold climate you will probably be turning down the thermostat and wearing heavier clothes when you are home.
By the second month, things are really starting to look bleak. You are getting phone calls from the credit card company and the car loan people, as well as the phone company and the electric company. You are going to come up short on next month’s rent and your diet consists mostly of ramen noodles, rice and beans, and dinners at friends’ houses.
Fast forward to four months later. Your car has been repossessed and you are sleeping on a friend’s couch since you were evicted from your apartment because you couldn’t pay the rent. The people to whom you still owe money are in court trying to get an additional garnishment on your wages. The law won’t let your boss fire you for one wage garnishment, but he is allowed to fire you for a second levy. Your credit is totally ruined and your life is in a shambles.
Though this has certainly been a dramatic example of the possible consequences of IRS wage garnishment, have no doubt that a tax levy can have just as devastating an impact on your life. Don’t wait until the IRS is on your employer’s doorstep. Take steps now to reach a settlement with the government.
Don’t try to reach a settlement with the IRS by yourself. The government will have their best agents working to take your money, and you need top tax professionals defending your hard-earned paycheck. Contact our tax experts right now and we can help you stop wage garnishment.
- Stop Wage Garnishment
- Clear IRS Bank levy
- Remove Penalties and Interest
Tags: Garnish Wages, Garnishment of Wages, IRS Debt, IRS Wage Garnishment, Stop Wage Garnishment, Wage Garnishment Laws