How much money does the IRS take out of you weekly check when you owe them taxes?

I filed my taxes two years ago and when i did them i claimed my aunts two kids her husband also claimed them without us knowing it. After i had recieved the refund check about six months later the IRS said that i had to pay the money back i id not contact them to set up a payment arrangement and now they have contacted my employer. Does anyone know how much they will take out of my check? I get payed everyother week and it is only around $500.

How much money does the IRS take out of you weekly check when you owe them taxes?
No the IRS cannot take all of the money from your check. There are amounts exempt from levy. They will however take a very substantial portion of it. You can figure the amount of your paycheck that is exempt from levy by using the IRS tables which you can find at the following link:


http://www.irs.gov/pub/irs-pdf/p1494.pdf





There is no reason to leave the levy in effect however. You should make sure all of your returns have been filed to date and set up a formal installment agreement right away. The amount you pay via an installment agreement will be substancially less then the amount you will pay via a wage levy. Also keep in mind that the IRS does not stop at wage garnishments. As long as you are subject to enforcement action and are not entered into a valid installment agreement the IRS will seek other assets which could include levying your bank accounts among other things.








Christopher R. Jacquez, EA


President, eTaxrelief.com


http://www.etaxrelief.com
Reply:If they want it bad enough, they can levy your bank account and take your entire paycheck until it's paid off. They also do this to dead beat parents.
Reply:You need to contact them as soon as possible to set up payment arrangements or they will take your whole pay check until the debt is paid in full.
Reply:You NEED to call and set up a payment plan right away or else your probably going to be broke til next pay day. They could take it all if they have a hair up their butt and they usually do. They could keep taking and taking til it's paid off.