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Receiving notice that the Internal Revenue Service may garnish your wages or levy your bank account can be extremely stressful. Many taxpayers feel overwhelmed when the IRS begins collection activity, especially when they are already experiencing financial difficulties.
At Z Tax & Accounting, we help individuals and business owners in Irving, Dallas, Fort Worth, Plano, Arlington, throughout the DFW Metroplex, and nationwide understand IRS collection notices and evaluate available resolution options related to wage garnishments, bank levies, and IRS collection activity.
An IRS wage garnishment occurs when the IRS requires an employer to withhold a portion of a taxpayer’s wages in order to satisfy unpaid tax liabilities.
Unlike many other creditors, the IRS has broad collection authority and may garnish wages without first obtaining a court judgment.
Once a wage garnishment begins:
Employers are legally required to comply
A portion of wages may be sent directly to the IRS
Garnishments may continue until the tax issue is resolved or alternative arrangements are made
A bank levy occurs when the IRS instructs a financial institution to freeze and potentially remit funds from a taxpayer’s bank account to the IRS.
Bank levies may affect:
Checking accounts
Savings accounts
Business bank accounts
Certain investment accounts
Once a levy is issued, the bank generally holds the funds temporarily before releasing them to the IRS, which may create a limited window for taxpayers to respond.
IRS collection actions often occur after:
Multiple IRS notices have been issued
Tax balances remain unpaid
Tax returns remain unfiled
Payment arrangements were not established
Prior agreements defaulted
In many situations, taxpayers may still have options available even after receiving levy or garnishment notices.
Before certain collection actions occur, taxpayers may receive notices such as:
Balance due notices
Final Notice of Intent to Levy
LT11 notices
CP504 notices
Collection warning letters
These notices often contain important deadlines and appeal rights.
Depending on the taxpayer’s circumstances, possible resolution strategies may include:
IRS installment agreements
Payment plans
Collection holds
Currently Not Collectible status
Penalty relief requests
Filing missing tax returns
Offer in Compromise evaluation
Financial hardship review
Each situation is different and depends on factors such as:
Amount owed
Filing compliance
Income
Assets
Financial hardship
Business operations
Many taxpayers facing garnishments or levies also have unfiled tax returns. The IRS often requires taxpayers to become compliant before approving certain collection alternatives.
Our office assists with:
Prior-year tax returns
Business tax filings
Payroll tax filings
IRS compliance matters
Collection notice responses
Business owners may face IRS collection actions involving:
Payroll taxes
Forms 941
Business tax liabilities
Trust fund recovery issues
Payroll deposit problems
IRS collection activity involving business taxes should generally be addressed promptly to help minimize disruption to business operations.
Ahsan Bashir is admitted to practice before the IRS and assists taxpayers with:
IRS collection notices
Wage garnishment matters
Bank levy issues
IRS payment plan requests
Tax resolution strategies
Compliance matters
IRS correspondence
Our office works with taxpayers to review their IRS situation and determine available options based on the facts and circumstances of each case.
Our office proudly assists taxpayers throughout:
We also provide secure virtual services for taxpayers nationwide.
If you received an IRS wage garnishment notice, bank levy notice, or other IRS collection letter, taking action quickly may help preserve additional resolution options.
Contact Z Tax & Accounting today to schedule a consultation regarding your IRS collection matter.