IRS Tax Relief Tips for Resolving Wage Garnishments, Tax Liens and Bank Levies in Albany, NY

Metro Area: Albany-Schenectady-Troy NY MSA

If you are a taxpayer in Albany, Schenectady or Troy and you are having IRS tax problems, you can avail the free initial consultation service of an experienced and licensed enrolled agent Mike Habib, by calling at 877-788-2937.

When you owe unpaid IRS back taxes, you may face drastic effects on your financial status because of cruel collecting methods including wage garnishment, tax liens and bank levy. In the recent tough economic circumstances these effects can ruin your business, break your marriage and even break your family.

The only way out of it is to be proactive, and have knowledge of what risks are involved and what options are available for you. Following tips will help you a great deal to assess your situation:

What is at stake?

When you receive a notice from IRS, the first thing you should bear in mind is that there is no where to hide! You have to find a solution out of different settlement solutions offered by IRS or your sources of income and property may be seized by IRS to cover the tax debt.

What is a wage garnishment and its effect?

If IRS goes for wage garnishment, your employer is legally bound to deduct a percentage of your salary which will be paid to IRS to cover up your tax debt. This percentage can be up to 70%, leaving only a few dollars for your expenditures even if you earn thousands of dollars.

What is a tax lien and its effect?

An IRS tax lien is a claim, on your personal property and real estate, used as a security for the tax debt. It bars you from selling or using your property in any way for financial benefits. Tax lien can blemish your credit report as well.

What is a tax levy and its effects?

Tax levy is the most dreadful weapon of IRS against you as a taxpayer. Your personal property including bank accounts, payroll check, social security payments etc, and in some cases personal residence can be seized to satisfy the tax liabilities.

Where to go for help?

As a taxpayer, you have the right to appeal to the IRS. You may file a Collection Appeal within a legal time frame. However, all the settlement offers by IRS involve legal technicalities and a minor mistake can ruin your whole case. Therefore, it is always good to seek help from the professionals. Our firm could be your best option as we specialize in tax problem resolution and are federally authorized to represent you before IRS. To get a free confidential analysis of your case, in Albany, Schenectady, Troy or in upstate New York Capital District, call 877-788-2937.

Get reliable tax relief today; call Mike Habib EA at 877-788-2937

Tax problem resolution services, IRS tax help and tax relief services in Albany, Rensselaer, Schenectady, Saratoga, Schoharie, Warren, Washington, Columbia, Montgomery, Fulton, Greene County and other cities in the state of New York.