{"id":276,"date":"2021-03-26T13:24:10","date_gmt":"2021-03-26T13:24:10","guid":{"rendered":"https:\/\/sacramentotaxlawyers.com\/?page_id=276"},"modified":"2021-09-13T20:34:33","modified_gmt":"2021-09-13T20:34:33","slug":"wage-garnishment","status":"publish","type":"page","link":"https:\/\/sacramentotaxlawyers.com\/wage-garnishment\/","title":{"rendered":"Tax Wage Garnishment"},"content":{"rendered":"\n
\"Jin<\/figure>
Jin Kim<\/strong><\/i>
Free Consultation<\/strong>
(916) 299-9913<\/a><\/strong>
Mon – Fri
8 AM – 6 PM<\/div>\n\n\n\n

If you\u2019re subject to a tax levy<\/a>, one of the assets that the IRS will target are your wage<\/a>s. The IRS prefers to levy liquid financial assets rather than other property such as real estate because there’s a faster timeline for repayment. If your wage is subject to a tax levy it will be garnished and you will be left with just enough to cover basic necessities. This works in theory but not in practice. Approximately fifty percent of your wages will be taken by the IRS until the debt is fully paid. For many, wage garnishment is humiliating and stressful. It\u2019s not without hope though; there are ways to stop the wage garnishment<\/a> and achieve tax resolution.<\/p>\n\n\n\n

Sacramento tax attorney Jin Kim<\/a> helps taxpayers stop wage garnishment, IRS levies, and other collection actions. Call her office at (916) 299-9913<\/strong> to learn more about your tax resolution options.<\/p><\/blockquote>\n\n\n\n

Levy and Wage Garnishment<\/h2>\n\n\n\n

Levies and wage garnishment<\/a> are a last resort for the IRS. When the IRS fails to collect the balance due, they\u2019ll resort to taking property to pay for it. Virtually anything is fair game. Financial assets are preferred, but the IRS may also liquidate personal property such as vehicles and even real estate.<\/p>\n\n\n\n

The good news is that it\u2019s possible to prevent a levy<\/a>. While the IRS may seem unforgiving, it\u2019s also practical. If you can offer an acceptable method of tax resolution then a levy won\u2019t be necessary. Options that you can choose from include making an offer in compromise<\/a> or figuring out an installment agreement<\/a> with the IRS.<\/p>\n\n\n\n

These tax abatement<\/a> options will still be available even if the levy is already in place. Between an installment plan and a levy, the former is a much better option because you\u2019ll have more control over the payment. If you can raise the money, your tax attorney can also negotiate with the IRS to remove the levy in exchange for full payment. This is a viable option if you have a property you can dispose of to pay your liability promptly.<\/p>\n\n\n\n

How Much Money Can I Protect From IRS Wage Garnishment?<\/h2>\n\n\n\n

The IRS can’t take your entire paycheck. IRS Publication 1494<\/a> details the monetary amounts that can be exempted from IRS wage garnishment. The amounts vary based on the filing status of the taxpayer and the number of dependents. For instance, as of 2021, a single taxpayer with 3 dependents can exempt (ie. protect) $489.42 weekly from IRS wage garnishment. Likewise, a married filing jointly taxpayer with 3 dependents can exempt $730.76 weekly. <\/p>\n","protected":false},"excerpt":{"rendered":"

Jin KimFree Consultation(916) 299-9913Mon – Fri8 AM – 6 PM If you\u2019re subject to a tax levy, one of the assets that the IRS will target are your wages. The IRS prefers to levy liquid financial assets rather than other property such as real estate because there’s a faster timeline for repayment. If your wage […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":8,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"yoast_head":"\nTax Wage Garnishment | Stop IRS Bank Levy | Sacramento Tax Relief<\/title>\n<meta name=\"description\" content=\"Sacramento tax lawyer Jin Kim stops IRS wage garnishment and bank levies through installment agreements and offers in compromise.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sacramentotaxlawyers.com\/wage-garnishment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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