Well Respected Tax Garnishment Release Lawyer in Cherry Hill, NJ Helps Clients in Burlington County, Camden County, Gloucester County, and Throughout NJ in Levy and Garnishment Release Tax Matters
If you have unpaid federal taxes, the Internal Revenue Service (IRS) can levy your assets, including through wage garnishment, taking your money until your taxes are paid in full. This can feel like being in a financial chokehold. Contact New Jersey IRS levy attorney Michele Finizio today for a free initial consultation.
There are remedies to have your federal tax levy removed or your wage garnishment released. But neither of these processes is simple and straightforward. They require collecting financial documents, filing paperwork, communicating with the IRS, making the case as to why your levy or wage garnishment should be released, and both take considerable time.
Let us help. The well-respected New Jersey IRS Levy Attorney at The Law Offices of Michele Finizio understands how challenging this situation can be. Our knowledgeable team is dedicated to helping clients in South Jersey who owe taxes to the IRS but are looking to have their tax levy and wage garnishment released in favor of other solutions to pay back their debt.
Facing a Tax Issue And Have Questions? We Can Help. Contact The Law Offices of Michele Finizio Today At 856-888-9059 Or Fill Our Our Convenient Online Contact Form For A Free Consultation About Your Case.
Skilled New Jersey Attorney Works On Behalf Of South Jersey Clients To Have IRS Tax Levies And Wage Garnishment Released
If you have received a final notice of intent to levy from the Internal Revenue Service (IRS), you have a period of 30 days to contact the IRS to request a collection due process hearing.
Otherwise, the IRS is legally allowed to reach out to your employer to institute a wage levy of wage garnishment. Wage garnishment continues until you have paid the IRS the full balance of the tax that you owe, or until you have set up an installment agreement with the IRS, or until your wage garnishment is to exceed the collection statute expiration date of ten years.
There are several avenues for releasing a federal tax levy and securing the release of your wage garnishment, including any of the following and more:
- Pay the full amount that is owed to the IRS
- Set up an installment agreement (a payment plan) with the IRS, whereby you make monthly payments to the IRS until the full balance you owe is paid
- Ask the IRS for an offer in compromise, whereby you settle your tax debt for less than the original amount. The settlement amount is dependent upon your financial situation. Filing for an offer in compromise with the IRS requires a significant amount of paperwork and takes time for the IRS to review your application
- Demonstrate financial hardship, whereby you must demonstrate to the IRS that the collection of taxes would impose financial hardship and hinder your ability to meet basic living expenses, which are defined as the standard living expenses for food and clothing nationally. If financial hardship is proven to the IRS, then you may achieve currently not collectible status from the IRS and there is a pause on any collection activity for the time being. Your financial situation will be reviewed on a regular basis and your financial hardship status changed if your finances change
- File for bankruptcy, which prompts the courts to issue a stay. The IRS and any other creditors must stop any collection activity. While filing for bankruptcy may eliminate some of your tax liabilities, it really depends upon the type of taxes that you owe, the length of time, and other factors
There is a statute of limitations for collections and, for the most part, the IRS has ten years to collect any taxes that are owed. After ten years, the IRS can no longer collect the tax that is owed and the levy must be removed. Navigating the process of having a levy released with the IRS is complicated. The New Jersey levy and garnishment release attorney at The Law Offices of Michele Finizio is experienced in working on behalf of clients to have tax levies or wage garnishment released.
Experienced New Jersey Attorney Successfully Secures Release Of IRS Tax Levies And Wage Garnishment For New Jersey Clients
Want to have your tax levy removed? Ready to have your wage garnishment be a thing of the past? Learn how the experienced New Jersey levy and garnishment release attorney at The Law Offices of Michele Finizio can successfully secure the release of your IRS tax levy and wage garnishment. Schedule a free confidential consultation with our office today.
Frequently Asked Questions About Levy and Garnishment Release Charges in New Jersey
Under what circumstances can the IRS issue a levy?
The IRS can issue a levy — which is a legal seizure of your property — to satisfy tax debt. If you do not pay your taxes and do not make any arrangements to pay off your debt, such as entering into an installment agreement, then the IRs can levy any of your property or any right to property that you own or have an interest in. For example, the IRS can seize and sell any property that you own, such as a house, car, or boat. The IRS may also levy property that is yours but is held by another party, such as your wages, bank accounts, rental income, dividends, licenses, commissions, and more. It is best not to ignore a tax bill from the IRS; to learn what steps you can take to settle your tax debt and have a levy or wage garnishment removed, contact the New Jersey levy and garnishment release attorney at The Law Offices of Michele Finizio.
If I change employers, can I avoid wage garnishment from the IRS?
No. Switching jobs does not clear you from IRS wage garnishment. The IRS will learn that there is a different employer that is giving you wages, and they will set up wage garnishment with your new employer. Wage garnishment is a serious move by the IRS to recover what you owe. Don’t take it lightly. Speak with the top-rated New Jersey levy and garnishment release attorney at The Law Offices of Michele Finizio to learn how we can help your financial situation.
