DH Expert Guides

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Guide to Wage Garnishment, Tax Liens, and Releasing Penalties

How can I get tax penalties removed?

Your tax debt can really add up when you tack on penalties and other late fees charged by the IRS. One way to help you reduce the amount you have to pay is to request penalty abatement. If you were unable to file your tax return due to circumstances beyond your control, you can plead your case to the IRS and request that the penalties be removed. This will not be an easy process and you may be expected to answer a number of questions regarding the situation. In addition, the IRS will look at your past history with paying taxes to determine if you are being honest. If after much consideration it is concluded that the information provided by you is legitimate and credible, the penalty abatement will most likely be approved.

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Is it possible to get released from a wage garnishment?

When the IRS takes action against you like wage garnishment, they can really hurt your bottom line. Your employer has no option but to follow the direction it is given by the government. If this happens to you, you may be able to work with an attorney or tax advocate to negotiate a wage garnishment release. This does not release you from your tax liability, but it may help you identify a more reasonable way to pay the government. By working with a professional, you may be able to set up an installment plan with payments that you can afford.

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Can I get a tax lien released?

After a tax lien is placed against your property, you can still get it released by establishing other means of repayment for your tax liability. You can do this by making a lump sum payment of the full amount or by setting up an installment agreement for monthly payments. Once you get something set up and repay the entire amount, the IRS will release the tax lien within 30 days. Having a lien against your property is never a situation you want to find yourself in. Resolve your problem by contacting an attorney or tax expert for assistance in working with the IRS.

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Can the IRS waive penaltes?

When you owe taxes and don’t pay them when they are due, the IRS automatically assesses penalties and late fees on the amount owed. Depending on your situation, you may have extenuating circumstances that the IRS will consider to possibly waive the penalties and solve at least a portion of your IRS problem. A good example of what the IRS considers an acceptable reason to approve waiving the penalties is if you are hit by a natural disaster, death or illness. If you think you may have a valid reason for having the penalties waived on the amount you owe, contact the IRS to find out if you qualify.

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