The economy is pretty rough these days. It can be nearly impossible to take care of all your bills and still have enough to live on. One area that is easily overlooked is your taxes. However, the IRS meticulously tracks all of this and will get the money they are owed one way or another.
When the Constitution was ratified in 1787, it granted the government power to collect taxes. It also required that certain kinds of tax revenues be given to the states in proportion to their respective populations. The rates of federal taxes can call for anywhere from 10 to 39.6 percent of taxable income. In order to regulate all of this, the IRS distributes over 8 billion pages of instructions and forms each year.
When the government does not get everything they are owed, one method they employ is a levy. This allows them to take possession of the assets and property of the debtor to satisfy what is owed. They can also impose a garnishment. What is wage garnishment? It involves taking money directly out of your paycheck. That can lead to a lot more complications financially.
If you are in this situation, you may be wondering “how can i stop garnishment of my wages?” For one thing, the IRS is required to go through due process and give fair warneing before implementing this, so you have time to take action. You can get garnishment help from a wide variety of tax relief services. They know the ins and outs of what it takes to avoid wage garnishment. They investigate your specific situation, interface with the IRS on your behalf, and sell out the best options for you to repay your debt without falling into further turmoil.
Tax debt is an ugly thing. However, the answers to the question how can i stop garnishment of my wages are not all hopeless. The worst thing you can do is nothing. Get help from your local tax relief center today and start rebuilding your finances. Find more on this topic here.