| The sinister plan...When you owe the IRS money they | | | | You can setup a payment plan with the IRS. With an |
| have a large number of things they can do to collect | | | | IRS payment plan or Installment Agreement you pay a |
| that money if you don't work with them to take care | | | | monthly amount to the IRS. As long as you pay this |
| of your debt. One of the easiest and preferred | | | | amount each month on time your wage levy will be |
| methods of collecting on your IRS debt by an | | | | lifted. Here's the condition though, the IRS determines |
| IRS-Hitman is the wage levy. | | | | what you're payment will be. This can be a burden, but |
| How does an IRS wage levy work? The IRS applies | | | | the alternative is still much worse. |
| you local area's standard of living to your gross pay. | | | | You can negotiate for a settlement with the IRS on |
| Anything over the base standards is taken out to pay | | | | your own or with the help of a tax professional. While |
| the IRS. On top of that your regular paycheck taxes | | | | negotiating with the IRS, any levies are put on hold until |
| are taken out after the wage levy. This can cause | | | | a resolution can be reached. Once your settlement |
| anywhere from 50-75% of your paycheck to go to | | | | has been accepted or denied you'll still owe some or all |
| Uncle Sam. | | | | of the debt. There are also conditions that you must |
| It's not just paychecks...Even if you don't get a | | | | maintain after a settlement offer has been accepted |
| paycheck, if you get social security or disability the IRS | | | | and the IRS is always waiting for you to make a |
| can levy that too. In fact the IRS can garnish up to 15% | | | | mistake again. |
| of social security. | | | | Listen Up! I can't stress enough how important it is to |
| Hope is not lost...But you want to know how to get out | | | | take action as soon as you know the IRS intends to |
| a wage levy. The IRS would like to keep your wage | | | | levy your wages. The number one reason a person is |
| levy active because it's an easy way for them to | | | | targeted by the IRS for a wage levy was because |
| collect on your debt. But there are some solutions | | | | they put off doing anything about their debt. |
| available where you'll still have to pay your debt, but at | | | | Now you have the smoking gun...Use it! |
| least the IRS won't be levying your earnings. | | | | |