DFW Metroplex CPA Services
DFW Metroplex CPA Services
DFW Metroplex CPA Services
HOME     CONTACT
Bookmark and Share
DFW Metroplex CPA Services
  • Dallas / Fort Worth Metroplex CPA Services . . .

    We are the answer to your tax, accounting, business & personal bookkepping and financial planning needs.
    Call the offices of Geoff Broyles CPA, today!
    Learn More about Gail Nogle Photography
  • Missing a deadline can be costly.

    Virtually all our tax, accounting & planning services include making sure you never miss a filing deadline – or opportunity. Penalties and fees can be more expensive than getting it right the first time! Never miss another filing deadling, let us watch the calendar for you.
    Missing a deadline can be costly.
  • Let's sit down & discuss how Geoff Broyles CPA can help . . .

    Come in and let's talk about your Dallas-Ft. Worth CPA service needs. We'll crunch some numbers and start your plan.
    Don't put it off another day.
    Call (903) 893-9977 and talk with Geoff.
    Let's sit down & discuss how Geoff Broyles CPA can help
  • Let's talk about your financial future . . .

    Building and preserving personal wealth requires specialized attention to both the present and future. Geoff Broyles CPA offers one-on-one guidance and a comprehensive plan that helps manage risk, improve performance, and ensure the growth and longevity of your wealth.
    Let's talk about your financial future
Jackson Hospitality Services, Inc. (JHS)
  About Us    |    FAQs    |    Service Overview    |    Tax Services    |    Business Services    |    Personal Services    |    Resources  

Wage Garnishment / Tax Levy Frequently Asked Questions (FAQs)

Geoff Broyles CPA

What is a Wage Levy?

A wage levy or wage garnishment is a legal way the IRS can collect your tax liability without having you directly pay them. The IRS will contact your current employer and tell them that your wages are to be garnished. Your employer will then take a portion of your pay and send it to the IRS and then pay you what is left.

Can a garnishment be stopped once the IRS has started to garnish my wages?

Yes a garnishment can be stopped once the IRS has started the levy. The IRS would actually prefer you to make some other form of arrangement than to enforce a garnishment. Some options can be to pay the IRS in full, enter into an installment agreement, file for an offer in compromise, get declared uncollectible, file bankruptcy, change employers or quit your job. The most common methods to stop a levy are to enter into an installment agreement, pay in full or file for an offer in compromise.

How much of my wages can the IRS take?

The IRS does have some guidelines as to how much they can take from you. They try to leave you with enough to pay your required expenses to live but this typically is does not happen. Their guidelines go by the national average of required amounts to live and if your rent is higher than the average, you will be left with an amount not high enough to pay your required expenses. The IRS can garnish upwards of 80% of your wages until they have collected the entire amount of your tax liability.

What kind of wages can the IRS take?

The IRS can seize salaries, commissions, bonuses, wages, retirement money and pension earnings. If you do not have any of those they will likely try to seize any other property you have.

How can I avoid the IRS from garnishing my wages?

The best way to avoid a wage levy is to stay on top of all required tax filings and pay all tax amounts owed to the IRS. If you cannot afford to pay the IRS you must come up with another form of agreement with the IRS to ensure that you pay back your taxes. The IRS has many methods available to those taxpayers that cannot afford their taxes, the method you pick depends upon your financial and tax situation.

What are the IRS rules / laws on garnishments? What are my Rights?

  • The IRS must send a final notice of intent to levy and notice of your right to a hearing at least 30 days before they can begin to levy your wages.
  • The IRS must have assessed a tax liability and sent you a notice to demand payment prior to the levy.
  • You must have neglected or refused to pay the amount that was assessed by the IRS.

How can a tax professional help with IRS wage garnishment?

A tax professoinal can help more than most people realize in a situation where a wage levy is involved. If the levy has already begun the a tax professional can put a hold status on the levy while they negotiate a tax settlement on your behalf. The hold will be in place the whole time a settlement is negotiated which ensures that you do not have any more money seized. A tax professional will analyze your financial, tax and work situation to come up with the best settlement method for your unique situation. They will ensure that you get back into good standing with the IRS while keeping in mind your financial needs.


Geoff Broyles CPA

SERVICES "SNAPSHOT"
Geoff Broyles CPA - Dallas CPA Tax & Accounting Services
Tax Services: Geoff Broyles CPA provides a wide range of proactive tax services for individuals, families and businesses throughout the Dallas/Ft. Worth area. We are committed to maintaining consistent communication throughout the year, allowing us to help our clients plan and make timely adjustments to any life changing events as they occur.
Geoff Broyles CPA - Dallas CPA Tax & Accounting Services
Geoff Broyles CPA - Dallas CPA Tax & Accounting Services
Business Services: As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits.
Geoff Broyles CPA - Dallas CPA Tax & Accounting Services
Geoff Broyles CPA - Dallas CPA Tax & Accounting Services
Personal Services: In addition to personal tax services, you get one-on-one guidance and a comprehensive financial plan that helps manage risk, improve performance, and ensure the growth and longevity of your wealth.
Geoff Broyles CPA - Dallas CPA Tax & Accounting Services
Geoff Broyles CPA
Sherman, Texas 75092
Tel: (903) 893-9977
Copyright © 2018 Geoff Broyles CPA, All Rights Reserved.