My sole income is my retirement of $1800/month in S/S, The IRS is taking out $1100/month leaving me $700 net per month for rent, utilities, etc. I don't own a car or house and have no tangible assets. I have been relying on my S/S check and it's getting very difficult to live. Isn't there a maximum limit they can take out per month. They've been taking the $1100/month for well over a year and I'm starting to hurt. Do I have any choices or options? Thanks.
2007-10-10 11:41:00 · 6 answers · asked by kenilworth209 1 in Business & Finance ➔ Taxes ➔ United States
The levy exemption amount of wages, salary or other income is about $700 for a single person so your number is OK. For a social security levy, IRS needs to serve a new one every month. They are very very unusual; you must have done something that made you extra worthy in the eyes of the IRS employee initiating the levy. You should request a release on the grounds of hardship. Applying the IRS expense standards, and going low on housing because I don't know where you are so will presume it's cheap, you would have allowable expenses of at least $1,400. I am an enrolled agent licensed by the Treasury Department and represent clients trying to resolve back tax debts. If you want information about my services, you can email me through my Answers profile.
2007-10-10 12:53:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
What you have is called a wage levy. You asked if there was a maximum they can take, yes and they are taking it. You got it because you either didn’t respond to the notices the government sent you or you broke an installment agreement with them. It will run until you enter into an installment agreement with them or the balance is paid in full. A levy is not designed as a method of paying your back taxes, it is designed to get your attention so you will set up a payment plan. If you only owe 10k then they will probably accept $170 a month in an installment agreement.
Go to your closest IRS office http://www.irs.gov/localcontacts/index.html if the assessment is correct enter into an installment agreement with them; if its not correct, give them the documentation they ask for to get the correct assessment.
2007-10-10 18:15:40 · answer #2 · answered by Charlie & Angie G 4 · 1⤊ 0⤋
They can take all but $50.00 per month or per check.I went through this myself when my social in-security number was used by someone else. damn illegals They started taking my money at about $10000.00 and it took 18 monthes and then the next year they wanted more for more pinalties and interest.
Removing IRS Notices of Lien with UCC-3 Form
Other people have a similar problem. The forms can be obtained at the Secretary of State office dealing with UCC.
His logic is to do a UCC 11 searching for any lien in your name. Try to get that document certified.
Then go to the county recorder with a witness, demand the actual lien, the best they will come up with is a notice of lien. Explain that the actual lien is not with the Secretary of State and thus should be filed with the county recorder. Ask to talk to a supervisor and explain you want all documents used to enter that Lien.
Make them aware that under the Federal Lien Registration Act a lien must be filed with the Secretary of State or the local county recorder. If all they produce are notice of liens explain under 6321 that the liens must be certified and since there is no lien, only a notice of lien, demand the lien be removed. Also use a privacy act request to obtain a copy of the assessment from the IRS office executing the notice of lien.
If they do not remove the lien, ask the county recorder for the paperwork to file a claim for damage against the county for violating the Federal Lien Registration Act and causing you personal damage. Remember to get names, dates and what they said in front of a witness. Have that witness sign a sworn declaration and deliver it to the County Recorder.
2007-10-10 11:50:57 · answer #3 · answered by Robert F 7 · 1⤊ 1⤋
www.irs.gov has all the answers, or call 1-800-829-1040; 1-800-829-0922'
Form the IRS website download Form 9465 Installment agreement request, there is a $105.00 USER FEE, and give your payment proposal, you should make payments to amount you feel you can pay every month. Usually IRS will let you pay it back in 60 months, of course still adding interest and penalties.
IF you can't pay any amount,download Form 433-F; collection information statement. provide 3 months bank statements; out of pocket medical bills etc, attach all required attachments to the form and mail to IRS, to address on form depending where you live.
Since they are taking your money you call call 1-800-829-3903 and can provide all information from Form 433-F to them and they can discuss over payment options.
2007-10-10 14:07:21 · answer #4 · answered by Ms. Angel.. 7 · 1⤊ 0⤋
Call the IRS and explain your situation. They may work with you on a payment plan.
2007-10-10 12:23:57 · answer #5 · answered by rainfingers 4 · 1⤊ 0⤋
how much penalty and interest is there on that 10k?
1100per month is 13,200.00 for a year
2007-10-10 11:51:39 · answer #6 · answered by choopie 3 · 1⤊ 0⤋