FAQ

What is Wage Garnishment?

When the IRS attaches wages and forces your employer to deduct them from your paycheck it’s termed a wage garnishment

What is Wage Garnishment?

Wage Garnishment

When the IRS or state has failed repeatedly to collect back taxes, they begin to seize assets. This process is called a “levy.” When they attach wages, it’s termed a “wage garnishment.” After providing either ten, thirty, or sixty-day notice through certified mail, they are legally allowed to seize bank accounts, demand payment from accounts receivable, take control of the property for auction, and assume title on vehicles. Virtually anything of value can be seized to satisfy the outstanding debt.

Levies and wage garnishments are the most crippling and humiliating of all collection tactics. They’re designed to force taxpayers into willful compliance. Thankfully, our staff has years of experience lifting levies and wage garnishments quickly and painlessly and is fluent in all aspects of the IRS Restructuring and reform act of 1998. Depending on the type and severity, it usually takes only 2-10 business days for us to successfully lift either. If a bank account has been levied, we are usually able to revert up to 90% of what was taken back into the account.

 

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This post was last modified on March 20, 2021 7:19 PM

Gustavo Viera

Gustavo A Viera is the managing partner of Accountants in Miami. His experience spans more than 35 years. He started his career in public accounting at the Big 4 CPA Firm of PriceWaterHouseCoopers where reached the level of senior audit manager. His Fortune 500 experience includes positions as CFO - Latin America Region for both Hewlett Packard and Telefonica of Spain. Gustavo also writes a blog twice a week that addresses trending accounting and tax issues. He is an SBA Advisor and teaches workshops for aspiring entrepreneurs. His office is located at 8950 SW 74 Court Suite 2201 – Miami, FL 33156 and is admitted to practice in the State of Florida as a licensed Certified Public Accountant. Gus welcomes questions and he can be reached at 305-431-2601.

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