Reasons The IRS Might Use A IRS Garnishment

Individuals who frequently owe the IRS a large amount of debt usually have a fear about the danger of experiencing a IRS Garnishments. Tax levies are possibly one of the most common fear occurrences that are connected with the IRS in general. Usually, these emotions only occur if the person is unable to pay their tax debt or has not taken any action to handle the situation more effectively.

Basically, a IRS Garnishments happens when the IRS seizes your property as payment for the debt that you owe. The law states that the IRS does not have to take action in a court in order to be approved for their decision. Likewise, the IRS can take any property as settlement for your debt. This indicates that the IRS can use a vehicle, house, or any other belongings of monetary worth as settlement for your debt.

The IRS can also get rid of your assets so as to acquire money as payment for your debt. Another alternative is that the IRS can subtract money from your salary and wages to get their payment. Regardless of whether you are receiving money from a loan or have taken out life insurance, the IRS can direct these factors and use them as a technique to get back the money that you owe for taxes.

However, this is not to say that the IRS actively seeks people that it can levy so as to acquire more money. Many levies only occur when the person has gone out of their way to get around making necessary payments or other components that have developed over time. For instance, the IRS will contact you with a form that explains that you need to make a payment towards your taxes. If you ignore the initial contact, they will try to communicate with you again. If you continue to pay no attention to them or refuse to pay the tax, you will receive a letter about their plan to levy and a hearing will occur in the next 30 days. Throughout this time, if you do not take action, it is guaranteed that you will be levied.

Generally, the IRS will get in touch with you with intent to work with you on payments instead of a IRS Garnishments. The use of a levy only happens if it looks like you are purposely avoiding making payments or you have refused. There are additional situations where you may be given a levy letter but no action is truly taken against you. For example, if you get a notice but you have already made all of your payments, you are not likely to have to deal with a levy. Likewise, if there has been an error in determining that a levy is needed, it might also not take place.

Although getting a IRS Garnishments notice is likely to make you anxious about your properties and what could happen, it can generally be prevented. If you are prepared to communicate with the IRS to inform them about mistakes that they made or payments that you intend to offer, using a levy is less likely to take place.

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