Friday, September 12, 2008

The Effects Of A Garnishment

You just received notification from the IRS and your employer you are about to have your wages garnished and you’re wondering what effect this is going to have on your income. IRS Publication 1494 provides a comprehensive breakdown of what to expect based on your filing status and the number of exemptions you claim.

The IRS will garnish your wages if you owe them money and you do not respond to their request for payment. First, the IRS will send you notification of their intent to levy (garnish) your wages. If you disregard these notifications you open wide the door for the IRS to garnish your wages. If this happens you will need to enlist the services of a tax professional to get this levy lifted. If you get a notice of intent to levy (garnish) you need to take action immediately. Call for help now!

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