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Stop Tax Garnishment

 

Back Taxes And You!

Are you worried about back taxes that you owe? This is a reasonable worry because the IRS is serious about collecting on taxes owed.  Back taxes owed are nothing to ignore!  The IRS has and is hiring new collection agents for the sole purpose of collecting as much back taxes owed as possible. They will often try to seize your bank account, garnish your wages, and / or place a levy on your real property.  The IRS use wage garnishments or levies to collect taxes owed.  Once filed, the employer is required to collect a large portion of each paycheck.  Although there is no formula, the portion is usually 30-70% of the gross amount.  This garnishment can be financially devastating to you and your family.  

Filing Bankruptcy Stops Tax Levies!

One of the biggest stresses that you will face is the wage garnishment the IRS or State Revenue Office places on you. A garnishment will siphon away a portion of your wages from your paycheck that you needed to take care of your family. Filing bankruptcy stops tax garnishments. As soon as the taxing authority finds out about your bankruptcy, they must immediately stop the garnishment. It does not matter what kind of tax you owe. The garnishment must stop. You may still owe for the tax, but your paycheck will no longer be attacked. This puts you in a better position to deal with the tax you owe on terms you can afford. Some taxes you can discharge and others are simply managed so you can afford them. Depending on your qualifications, a bankruptcy attorney may be able to get rid of the tax garnishment forever.

How powerful is that?

 

A Lot Of IRS Income Taxes Are Dischargeable:

Next....if your problem is Income Taxes (as opposed to something like Withholding taxes), we first look to see how old it is. Why? Because...if the taxes you owe are more than 3 years old, you may not have to pay them back at all. Most people don't know this....but the fact is that certain older taxes are "dischargeable"....which means you can get rid of it by filing bankruptcy and not pay it back...ever. There are 4 rules to apply to see if your back income taxes are dischargeable....but fortunately for you.....we know the rules....inside and out. We apply these rules all the time.....and we also know how to get dead-accurate information from the IRS itself to verify what you owe and whether it is dischargeable under these 4 rules.

Suffice it to say.....we get rid of hundreds of thousands of dollars in income taxes for our clients every year.

What About The Taxes I Can't Get Rid Of?

We can get you up to 60 months to pay it back. This assumes you file the "Loan Consolidation" type of Bankruptcy case. This is also called a "Chapter 13 case".  The IRS is just another creditor in the Chapter 13. Its objections are limited to the same grounds as any other creditor: lack of good faith; lack of feasibility; best interests of creditors . Our experience is that the IRS welcomes a Chapter 13 filing since the priority taxes get paid in full with little expenditure of time and energy by the IRS.  However, if there is a dispute, one of the most useful aspects of bankruptcy is the power of the bankruptcy court to decide disputes between the debtor and a creditor, even if the creditor is the IRS.

What does this mean?  It means you can set up payments that may be affordable. For instance....if you owe the IRS $6,000.00 in "non-dischargeable" taxes, you can....in most cases....force the IRS to take payments of as little as $25 per week. In many...if not most....cases, you can also force the IRS to take payments....without adding interest. That's a lot better than just worrying.....a lot better than having the IRS grab your stuff or levy on your bank account.....or worse...a lot better than having the IRS garnish your wages.....and a whole lot better than having to come up with $6,000 in cash.

Disclaimer:

Sure there's more too it than just this, there are tax liens, trust fund taxes,  income tax consequences to surrendered property, and administrative tax issues but it's complicated to generalize and cover everyone's potential situation. Your results will vary depending on a lot of things. This example and explanation covers a good general description of how Federal Law takes an income tax situation and solves it for you. This information is simple and general.....but should tell you that even a very bad situation can afford some fantastic possibilities if you talk to the right person.

The Law Office of Steven P. Taylor has handled thousands of such situations and can talk with real expertise in these matters. Not everyone can boast such expertise. We can sincerely help most people that come in and talk to us.

The Internal Revenue Service will never just go away by itself! You need to take some action and it has to be the right action! Call for a FREE Confidential Appointment! We will give you all of your options!

Call now for a free initial consultation! We can help!

We can solve most of your financial problems..... and a few more..... that you might not know you have!

Call toll free. Call 1-800-966-8447 today.

 


We are a debt relief agency. OUR DEBT RELIEF LAWYERS help people file for bankruptcy under the united States bankruptcy code. IF YOU NEED DEBT RELIEF, OUR LAWYERS ARE READY TO HELP.

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