When you are trying to come to a resolution from an IRS garnishment that has been placed on you, one of the best ways to stop wage garnishment is to have a professional negotiate you into the Offer in Compromise program which is a US based program started by the IRS that gives those who qualify the chance to negotiate a settled amount that is lower than the original total for the purposes of clearing the debt. In July of 2006, the IRS change the OIC program which made it so that a 20 percent payment that was non refundable had to be made up front along with a $150 fee when a cash offer goes through to put an end to IRS garnishments and catch up on back taxes. Fortunately, there is back tax relief available and when you utilize it, you will have the opportunity to remove tax liens and ultimately stop IRS wage garnishment in its tracks.
Back in 1862, Congress enacted income tax for the first time in order to support efforts in the Civil War, but today, IRS garnishments can get the best of you if you do not see proper help. By 1913, the Constitution saw its 16th Amendment which ultimately made income tax a fixture within the domestic tax system and if was from efforts like this that ultimately helped the IRS garnishment penalties to come around in the first place. By getting the best help with back taxes, you will ultimately have the opportunity to deal with your garnishments head on, negotiate a lower payment for your taxes, and begin working toward paying them off.
During his term, President George W. Bush signed a string of tax cuts that went into law. The biggest of these was the Economic Growth and Tax Relief Reconciliation Act of 2001 and yet, many people are still facing IRS garnishments today. You will find that once you are able to find a professional who can help you, dealing with such problems will be easier.
A professional will know just how to engage the IRS. This is important because without their help, you could face maximum penalties. Ultimately, this could leave you overwhelmed by the debt.
Everyone deserves the chance to make their back tax situation right. Fortunately you can count on getting that chance from professional help. Then, you will be able to move toward a debt free lifestyle.
Get more info here.