Stopping Wage Garnishment–Patrick Cox, Taxmasters

The IRS normally doesn’t resort to wage garnishment (more accurately termed wage levy) until other attempts at collecting delinquent tax have failed. This is not always the case, but typically the IRS will garnish wages as part of a coordinated effort to collect past-due tax.

If the IRS is taking your wages, you need to act quickly. If you don’t act, the IRS can continue wage garnishment and will likely add to it liens against your property and levies against your bank, Social Security, and retirement accounts. The truth of the matter is that if the IRS believes you owe them money, they can take what you own to satisfy payment.

Wage Garnishment and Your Employer

There is nothing your employer can do to stop wage garnishment. They have to comply with the IRS or risk the IRS coming after them. Many people get upset with their employer in this situation, but there really is nothing the employer can do. There is something we can do to help, though.

Regain Compliance and Negotiate

The first step you have to take to stop wage garnishment is to regain compliance. A good tax representative like TaxMasters can help you achieve this. We have a great record of obtaining wage levy releases and reductions.

Looking Ahead

After regaining compliance and negotiating a release or reduction on your wage levy, it is important that you uphold your side of any agreements made with the IRS. Getting out of trouble with the IRS is always a challenge. Staying out of trouble after you regain compliance is far easier.

No matter your tax problem, if you need us we’ll be here. And if you are one of the unfortunate who just found out your wages are being garnished by the IRS, contact us today. TaxMasters can help stop wage garnishments.

Until you need us,

Pat Cox

IRS Enforcement and Past-Due Tax Returns–Patrick Cox, TaxMasters

The Election and Your Taxes

One of the things TaxMasters is good at is watching trends. For instance, we know that the IRS lays lower than usual heading into an election. Now with the election out of the way, we strongly suspect that letters are going in the mail this week and next. One of the easiest issues for the IRS to identify is the absence of past-due tax returns. Past-due tax returns also happen to be one of the things we can help you resolve fairly quickly if you beat the IRS to the punch.

Over the next few weeks, a whole new crop of audit notifications, substitutes for unfiled and past-due tax returns, inquiries about deductions, questions about dependents and unreported income, and notifications of taxes due will be making their way to people. If you receive any one of these letters, particularly if it’s a Notice of Intent to Levy and Notice of Right to a Hearing, contact us as soon as you get it. You are indeed in need of tax representation. 

Tax Enforcement Trends into 2009

There are several things we expect the IRS to focus on going into 2009. There has been quite a bit of buzz lately about the IRS tightening their grip and increasing their effort to monitor sheltered offshore income. This filing season, the IRS will watch foreign bank account reports (FBARs) more closely than in the past and will automatically penalize those who file the reports late.

The National Association of Tax Professionals (NATP) predicts that 2009 will see an increase in corporate and self-employed (Schedule C) audits. The intent would seem to be to generate more revenue, make up for the current tax shortfall, and encourage compliance in the face of the current economic downturn. The push to collect revenue will continue to pick up steam, especially as Commissioner Schulman works to prove himself to an entirely new administration.

If you are already having problems with the IRS, you need to resolve them now. If you have past-due tax returns or unpaid or delinquent taxes, it is in your best interest to call us before the IRS contacts you.  We will get started right away.  We will get between you and the IRS and make them treat you with respect.

Until you need us,

Pat Cox

Thanks for the Feedback—Patrick Cox, TaxMasters

I’ve received quite a bit of feedback just this week from people who are ecstatic with the results we’ve achieved for them at TaxMasters, specifically in dealing with cases where we were working to reduce the taxes owed the IRS or to settle taxes (also accomplished with an offer in compromise). With the offer in compromise in particular, the IRS has tightened the reins and is using every opportunity to keep even qualified taxpayers from finding ways to settle taxes. In times like these, it sure helps to have a strong, knowledgeable representative if you are trying to settle taxes or appeal an audit.

Being in the position I’m in, I usually don’t hear feedback unless it’s negative. And don’t get me wrong; we need the negative feedback, too. Looking at complaints is what helps us police ourselves and make sure we are doing the right kinds of things to support and represent our clients appropriately. But the thank you messages sure do make me smile.

Keep the feedback coming, folks! We may contact you to talk about publishing your comments publicly.

Until you need us,

Pat Cox