*****IRS WAGE GARNISHMENT RELEASE AND ASSISTANCE

The IRS can notify your employer that you have a back tax debt. If your employer receives the garnishment notice, it is then required, by law, to send a significant portion of each of your paycheck directly to the IRS to offset the debt. 

The dollar amount sent to the IRS for your wage garnishment depends on your filing status, the number of exemptions you claim and how often you get paid. At Advance Tax Relief, we never advise any taxpayer to take on the IRS on your own. If you do nothing, the IRS will continue to garnish your paycheck until your debt is paid in full.

Our tax specialists can attempt to negotiate a release of the wage garnishment if you qualify for relief. Depending upon your individual circumstances, we may be able to arrange an Installment Agreement to pay the IRS a specified dollar amount every month until the debt is paid. Once the Installment Agreement is in place, we may be able to negotiate an Offer in Compromise and settle your debt for less than the actual liability, depending on your individual financial circumstances. Another option is to be placed in a Currently Not Collectible status, in which you may not have to make payments to the IRS at all, again depending on your individual financial circumstances.

ADVANCE TAX RELIEF - We Solve Tax Problems
www.advancetaxrelief.net
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*****Tax Rules on Early Withdrawals from Retirement Plans

Taking money out early from your retirement plan can cost you an extra 10 percent in taxes. 

Here are five things ADVANCE TAX RELIEF LLC wants you to know about early withdrawals from retirement plans.


1. An early withdrawal normally means taking money from your plan, such as a 401(k), before you reach age 59½.

2. You must report the amount you withdrew from your retirement plan to the IRS. You may have to pay an additional 10 percent tax on your withdrawal.

3. The additional 10 percent tax normally does not apply to nontaxable withdrawals. Nontaxable withdrawals include withdrawals of your cost in participating in the plan. Your cost includes contributions that you paid tax on before you put them into the plan.

4. If you transfer a withdrawal from one qualified retirement plan to another within 60 days, the transfer is a rollover. Rollovers are not subject to income tax. The added 10 percent tax also does not apply to a rollover.

5. There are several other exceptions to the additional 10 percent tax. These include withdrawals if you have certain medical expenses or if you are disabled. Some of the exceptions for retirement plans are different from the rules for IRAs.

ADVANCE TAX RELIEF LLC - We Solve Tax Problems
www.advancetaxrelief.net
(800)790-8574

BBB Accredited Business

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