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Let a Minneapolis tax attorney help negotiate your wage garnishments

Submitted by admin on Fri, 7/3/2015 - 10:25 am

The British poet George Herbert once wrote that “Good words are worth much and cost little.” The importance of clear communication is imperative to every level of success. If you are able to connect and maintain connection with people, your life is open to a world of possibilities that it wouldn’t have been otherwise. Especially in the world of business, the importance of keeping an open line of communication is what will set you apart from your competition.

The same is also true if you happen to be in the unfortunate position of owing money. Whether your debt is to a personal friend, bank or even the IRS, staying communicative will help you reduce the chances ruining you financial reputation and credit.

As many people know, ignoring past debts will not make them go away. In fact, sometimes the amounts you owe will continue to increase due to late fees, service charges and interest rates.  In some cases, companies will not wait for you to reach out to communicate and will move forward will judgments and wage garnishments.

“Clients are often embarrassed when faced with garnishment because now their paycheck is involved, which means their employer is aware of their financial situation,” says Gail Cunningham, senior director of public relations at the National Foundation for Credit Counseling (NFCC). Luckily through the Consumer Credit Protection Act, employers are not allowed to terminate their workers because of wage garnishments.

When involved with any sort of wage garnishment due to past-unpaid taxes, there are many IRS tax attorneys in Minneapolis like Tax Tiger who can help you negotiate and reduce the amount you owe. Even after a wage garnishment is initiated, a Minneapolis tax attorney can reach out to the IRS and start negotiating on your behalf. The good news is that state and federal law regulate the amount of money that may be garnished from a consumer’s wages or bank account. The general rule is that no more than 25 percent of someone’s earnings may be garnished. Garnishment policies do vary from state to state, so make sure you talk to your tax attorney in Minneapolis and they will help you figure out the maximum amount allowed.

Source: How wage garnishment works – and how to avoid it – CreditCards.com