Income tax became a permanent fixture in the US tax system in 16th Amendment of the US Constitution in 1913. Since then several laws have been passed concerning our taxation system and the way people and businesses are taxed. For example, President George W. Bush passed series of tax cuts, the largest of which is the Economic Growth and Tax Reconciliation Act of 2001. Despite the cuts, many are still facing problems with the IRS. Many in fact, owe the IRS money and are seeking tax relief help from the IRS. Now, if you are among the many citizens who are seeking tax relief help from the IRS, you are not alone and help is available. So here are some questions and answers that will help put your mind at ease and show you the right course of action.
What is a notice of federal tax lien? The federal tax lien is the legal claim of the government against your personal properties as payment for your tax debt. Thus, a notice of the federal tax lien is a notice that tells you that the government is taking its claim against your property, such as your wage. The notice tells you that you should seek the tax relief help so that you can settle your debt without the IRS taking away your property or assets.
How can i stop garnishment of my wages? There are several ways to stop wage garnishment and lien on your property. Wage garnishment is considered as payroll process once it is served to the employer. But before the IRS garnish your wages, it will first give you notice, then give you the chance to make payments. For example, in the US, the Officer in Compromise is one of the IRS programs for settling debt with the IRS. The program allows taxpayers who have unpaid debt to the IRS to settle his debt for an amount that is less than what he actually owes. Of course he must qualify for the program, which is under the 26 USC 7122. This is just one of the programs so if you hire the best tax resolution services, you can find the right program that will allow you to settle your debt.
Will bankruptcy stop wage garnishment? Bankruptcy will stop wage garnishment but in the case of the IRS debt, it will only stop it temporarily. After your case, you will still need to settle your debt. You need therefore to seek tax relief help as soon as possible. Unlike your other debts, your IRS debt cannot be discharged through bankruptcy. It is best to settle and find tax relief help instead of filing of bankruptcy. IRS law firms and lawyers are good at negotiating IRS debt and offer the best tax relief help so you will be able to pay your debts in the way that you can afford. Seek the best tax relief help now before it is too late and the IRS starts garnishing your wage. More information like this: ctaxrelief.com
5 responses to “FAQs About IRS Debt”
Thank you for the information somehow it gives me hope.
Thank you for the information somehow it gives me hope.
Thank you for the information somehow it gives me hope.
Thank you for the information somehow it gives me hope.
Thank you for the information somehow it gives me hope.