Thread: owe irs money

if i owe the irs over $4,000 dollars will they garnish my wages. i need to know before i start this new job.

The IRS can garnish your wages and even remove money directly from a bank account in your name; work on a payment plan with the IRS prior to starting your new job.

Originally Posted by legalguy

The IRS can garnish your wages and even remove money directly from a bank account in your name; work on a payment plan with the IRS prior to starting your new job.

True, but a little more detail will help you I think. Yes, the IRS can garnish wages, but there are very strong, protective laws on the books that limit the amount of garnishment that ANY creditor can take. I believe the figure is 25% of disposable income, but I am not sure about that. But you'll still be able to live your life for sure.

Another thing is that the IRS is extremely unlikely to garnish your wages for $4000. It'll take them a year to act, in any case, once they learn of your new job. Once they do get in gear, they will probably proceed with more traditional collection methods like writing letters before proceeding to the heavy stuff.

Now, you really ultimately have to pay the money, but there is a procedure called an offer in compromise, where the IRS will accept less than the full sum if you can demonstrate that you don't have the means to pay it.

Those TV commercials that say "settle your IRS debt for pennies on the dollar!"? All they are is Offer In Compromise mills that churn out dozens of OIC's in a week...

I just got audited for the first time but it happened in 2003 and i didn't know i got audited until December 2008. They said they couldn't find me but yet i have being doing my taxes every since i moved. But yet they still charged me for 5 years worth of interest. Is that even right. My husband said there is nothing we can do about it.

[B]Offer in Compromise

Can you tell me more about IRS i want to know in detail.