Archive for Naperville IL

Paying Back Taxes on Your Terms: Learn How to Avoid Wage Garnishment With Help From a Tax Attorney

Wage garnishment is perhaps the most direct action that the IRS can take in order to collect when you owe back taxes. Your financial situation can quickly feel like it’s out of control when the government takes your money before you even get it, but there is help out there. If the IRS is garnishing your wages, tax attorneys in your area can advocate with the IRS on your behalf and can help you negotiate a more reasonable repayment plan. With the help of a professional tax law and CPA firm, you can find a solution to your back tax debt that works for everyone.

Wage garnishment is when the IRS takes money you owe for back income taxes or back property taxes directly from your paycheck. This practice is also sometimes called a wage levy. Regardless of the name, it’s not a good situation in which to find yourself. While the IRS is technically within its rights to do this, wage garnishment or levying can have a devastating impact on you and your family. When your paycheck shrinks but you’re still working the same hours, it can become incredibly difficult to manage day-to-day expenses like buying food, paying rent, and paying for transportation. In the face of these difficulties, however, there is some positive news. Just because the IRS has started garnishing your wages does not mean that you are stuck in that situation indefinitely. There are other repayment structures possible when it comes to resolving back taxes. There are tax lawyers and accountants in your community who specialize in tax resolution services, and these professionals can help facilitate negotiations between you and the IRS so that you can find a better repayment structure to resolve your back tax debt.

When you owe back taxes, the bottom line is that you have to repay them. In addition to the principal amount you owe, there will also be interest and possibly penalties that you will have to pay. As an individual citizen it can be very daunting to be confronted with all of the elements of the IRS system like this. Instead of ignoring the problem, though, or allowing the IRS to step in directly and take the money you owe out of your paycheck, you can and should take charge of the situation. The first thing to do is to contact your local tax resolution team–a group of CPAs and tax attorneys whose job is to help people resolve their debt to the IRS in the easiest, most efficient, and most realistic way possible. Instead of allowing the IRS to continue wage garnishment, these tax resolution specialists can help you negotiate and set up an alternate payment structure that puts you back in control of your financial situation. This could be anything from organizing manageable installment payments to even negotiating a smaller overall amount that you owe. Whatever the specifics of your situation, your tax resolution firm will work with you to make resolving your back tax situation possible.

There’s no need to continue to suffer from wage garnishment, especially if it causes you or your family financial hardship. Let the tax attorney and accountant in your tax resolution team help you find out what other options are possible in terms of resolving your back tax debt.

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