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Wage Garnishment in Rochester
The IRS or state tax authority can enforce wage garnishments on taxpayers to collect back taxes. Wage garnishments can be aggressive and devastating for individuals or families when their wages are taken away. Once a wage garnishment is ordered, few restrictions apply. The IRS can garnish wages until the full debt is paid, often leaving a debtor with few funds left for other expenses.
Have you been notified of a wage garnishment in Rochester? Contact Key Tax Group immediately. Our experienced tax specialists have over 35 years of combined tax experience and work hard to find resolutions on your behalf.
What Are State and IRS Wage Garnishments?
If you are experiencing wage garnishments due to unpaid tax debt, it’s critical to reach a resolution before garnishment begins, especially if you owe state taxes. Garnishment due to outstanding federal taxes can be stopped or changed. However, once a state garnishment is initiated, it will not be lifted until the entire debt is paid or expires. In some states, up to 40% of gross income can be garnished. After a garnishment is in place, the only way to gain a reduction (up to 10-12.5%) is through submitting a petition and your financials.
The most common causes of wage garnishment include:
- Not filing tax returns
- Not responding to the IRS on time
- Owing debt each year and not making adjustments to prevent new debts
Federal law allows the IRS to take the following amounts from your wages until a tax debt is paid:
- W-2 – the IRS can take all wages except for $197/week
- 1099 Income – the IRS can take 100% of earnings
- Social Security income – the IRS can take up to 15%
Contact Key Tax Group for Wage Garnishment Resolution in Rochester
No matter your reason for wage garnishment, contact the professionals at Key Tax Group to help you keep more of your hard-earned money in your accounts. At the first indication of a garnishment, we help our clients by assessing their tax situation and develop a plan to resolve their debt.
If your wages are at risk, contact the experienced tax professionals Key Tax Group today for a free consultation.