| We are extremely money dependent. I probably | | | | IRS does not have to do much to place a |
| don't have to tell you that, but you may not | | | | garnishment, but they do at least have to give |
| realize just how quickly you will need it when it is | | | | you notice it is coming. In fact, the Agency has to |
| gone. This is why the wage garnishment is such a | | | | give you a 30 day notice to come to a hearing on |
| powerful tool when wielded like a battle axe in a | | | | the issue first. If you blew it off, well, then you |
| Lord of the Rings movie by the IRS. | | | | need to look in the mirror when placing blame. |
| What is a wage garnishment? Well, the name nails | | | | The real problem with wage garnishments is the |
| it. It is the withholding of part of your paycheck | | | | amount of the check taken. It depends on your |
| for the payment of an outstanding debt. This can | | | | specific situation, how often you are paid, the |
| occur when you lose a lawsuit, but is more | | | | number of dependents you have and so on. |
| common a tool the IRS employees. It is a | | | | However the formula works out, the numbers |
| powerful tool as well. | | | | are usually brutal. For instance, a single person |
| It's Friday, the 29th of the month and you are | | | | with no dependents will have everything but $729 |
| going to head out to have a drink with your | | | | taken out of their check. Yes, you read that right. |
| co-workers. Paychecks are handed out around | | | | It is a big chunk of your income and will continue |
| four. Hey, why is your only half of the normal | | | | to be taken out until the tax debt is paid. |
| amount? You hustle over to the HR department | | | | As you can imagine, this kind of financial constraint |
| and are asked to close the door. Your told about | | | | is too much for most people. Most usually end up |
| the IRS garnishment notice. Before you start | | | | contacting the agency and seeking another option. |
| yelling at the HR people, keep in mind they have | | | | Sometimes they get relief. Sometimes they don't. |
| no choice but to honor it. | | | | This is why should always negotiate with the IRS |
| In the real world, you would already know about | | | | before things get to the garnishment level. |
| the wage garnishment before it happened. The | | | | |