14 Apr 2024
It Is Better to Make Arrangements than to File Bankruptcy
Tax

It Is Better to Make Arrangements than to File Bankruptcy 

In case you have unpaid tax and is not answering to IRS, the IRS will contact your employer, who will then be required to comply. Your employer will be compelled to deduct a sizeable portion of your wages from each payment. It is advised that those who are having issues with wage garnishment seek advice from a knowledgeable and seasoned tax attorney. If you don’t respond correctly, you run the chance of enduring future financial difficulties. This page can lead you to more useful details on experts can help you with your unpaid taxes.

Your final choice

You can file for bankruptcy if you have no other choices. Bankruptcy may be your only remaining choice if you want to keep your house. You can file for bankruptcy and maintain your house, but the debt on your home equity line of credit will also be eliminated. Of course, if you choose to walk this route, it will have a significant impact on your financial status. It will temporarily block the IRS from garnishing your wages, but you still owe the IRS money.

Approaching Wage Garnishment

If you owe the IRS a sizable sum of money or have unfiled tax returns, you run the risk of having your wages garnished. You should take the IRS’s “Final Notice of Intent to Levy” letter seriously if you receive one. You run the chance of paying more than you should, which can put you in a difficult financial situation. At this point, a tax expert is always required to handle this situation. They will be able to speak with the IRS on your behalf if you hire a tax attorney. They will talk about your possibilities for obtaining the IRS wage garnishment relief using their expertise and experiences.

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