A Wage Levy Can Change Your Life

Have you ever been hit by a wage levy? If you ever has a bank error that overdrew your account you might have some idea of how such an event can set off a chain of events that are inconvenient and aggravating. Unless you have never whipped out your debit card to pay for something simple and have had the cashier smile in a pitying manner and say, I’m sorry, your card does not seem to be working, you know what I mean about how annoying a temporary bank error can be. This kind of error is nothing compared to a wage levy that the IRS can attach to your bank account.

If you owe the IRS money, they have the ability and capability to swoop into your bank account with a 70 percent wage levy. If an error that takes a few hundred bucks is problematic, imagine what it would be like to have your bank account frozen to the tune of 70 percent of your money that is in the account or that is deposited into your account.

Don’t make the mistake of thinking you can find a way to avoid having your cash in your account to be attached by the IRS because if there is no cash, they can issue the levy against personal property such as your house. Jay Allen Finn is a certified public accountant who used to be an IRS agent and he has helped with a lot of IRS issues including the painful experience of a wage levy. http://www.doggedbyirs.com