If you are being faced with an IRS wage levy it is important that you act fast to limit the effects of the levy. The IRS typically shows little remorse for what taxpayers need to live their daily lives and to pay their other required expenses. There are many different options of handling a wage levy and the option you choose should be based upon your tax and financial situation. Since it is in your best interest to act fast, you better hire a tax professional instead of taking your time to learn what would be best. Below are three benefits you receive from using a tax professional to resolve your IRS wage garnishment.
1) A tax professional knows the IRS lingo and can quickly navigate the IRS hierarchy to get solutions as quickly as possible. Knowing the IRS lingo goes a lot way with the IRS. An IRS employee would much rather work with a tax professional than an individual taxpayer because it makes their job easier. With that being said, an IRS employee is also more likely to give a more favorable decision to someone using a tax professional than going at it alone.
2) Using a tax professional gives an optimistic sign to the IRS that you are actually trying to resolve your problem. If the IRS has started to garnish your wages this means the IRS has lost hope in you ever coming to a resolution on your own and they feel a forced collection mechanism is the only way they will ever be able to collect from you. Just the fact along that you hired a tax professional sends the signal to the IRS that you are very serious about resolving your tax problem and you want to work with them to come to an agreement. The IRS would much rather negotiate some other form of settlement than to garnish your wages. Enforcing a garnishment costs the IRS money and they would rather settle in another manner, even if it means allowing the taxpayer to settle for less than the total amount owed.
3) Experience with situations just like yours. IRS wage garnishment is a common issue tax professionals deal with. They know what options are available and the likelihood of you qualifying for different IRS filings to resolve your tax problem. Also, if you were to handle the situation on your own you would be told by the IRS to resolve the tax problem in a manner that works in the favor of the IRS alone. The IRS does not keep your financial well being in mind when suggesting settlements. A tax professional will analyze your tax and financial situation to find the best settlement method that works for you, while knowing the IRS will accept that method if proposed.
You can be assured when hiring a tax professional that their benefits greatly outweigh their costs. A wage levy is a serious matter and it should not be taken lightly. Act quickly and get a tax professional on your side as soon as possible to find the best tax resolution for your situation.
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