07 / 13 / 12

Myth? If the IRS garnishes my wages, they have to leave me with a "livable wage"

False!  If the IRS were to garnish your paycheck to collect taxes, they have a table that they refer to that determines how much money they will leave in your paycheck per week.

The only factors that determine how much of your paycheck is left over for you and your family after a garnishment is your marital status, the number of exceptions that you claim and whether you're 65 years old and/or blind.  For example, if you're married and you file a joint return and claim 2 tax exemptions, the IRS will allow you to keep $336.54 regardless of how much you earn.  It makes no difference if you make $5,000/week or $500/week.  You take home $336.54 and the IRS keeps the rest until your tax debt is paid off. 

***Bryson Law Firm, LLC is a Louisiana law firm focusing 100% of our practice on helping people and businesses solve their IRS and Louisiana state tax problems. We have offices in Lafayette, Baton Rouge, and Shreveport.