June 1, 2007, Newsletter Issue #14: Releasing A Wage Garnishment

Tip of the Week

DebtHelp.com Tip: How do you get a wage garnishment released? Since a wage garnishment is a form of tax levy, the procedures you need to follow to have one released are essentially the same.

You paid the wage garnishment and all applicable costs in full.You have shown the IRS that the levy is causing undue financial hardship on you.You have shown the IRS that they have a better chance of collecting the taxes if they release the asset.The statute of limitations ended before you received the levy notice.You are involved in an installment agreement (unless it states otherwise)You have shown the IRS that the liabilities on the levied property are less than the fair market value. And, releasing the levy would not hinder collecting the taxes.A wage garnishment release will remove the unpaid tax bill from your IRS account. It also will stop the garnishment from decreasing your wages, thereby giving you a larger paycheck.

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