43 states and many localities in the United States impose an income tax on individuals. And it is crucially important to pay these taxes, as failing to do so can have very serious consequences. Failure to pay federal income tax can result in serious problems with the IRS. And IRS tax problems have very serious ramifications. For example, in worst case scenarios, the IRS can levy upon wages, bank accounts, social security payments, accounts receivables, insurance proceeds, real property, and, in some cases, a personal residence. One of the most common consequences tax debtors face is wage garnishment, in which the IRS demands that an employer send a portion of the wages of a tax debtor directly to the IRS. Though, for taxpayers in serious debt to the IRS, the most feared weapon in the IRS arsenal is the tax levy. And according to the U.S. Supreme Court, the power of administrative levy for federal taxes dates back to the year 1791.
Therefore, overall, if you are facing IRS problems it is essential to seek help with Irs tax problems from a professional. A professional can review all of your tax liabilities with you and help you to come up with a solution. If you want to stop IRS wage garnishment a professional can also help to negotiate an installment agreement. An installment agreement is a program that allows a taxpayer to pay off their outstanding tax liabilities. Overall, if you are facing problems with irs, it can be wise to seek professional guidance for help with IRS problems. Continue.