The IRS is required to leave you with a minimum amount of monthly income when your wages are being garnished. The remaining funds will be seized and applied to your tax debt until your balance is paid off or the wage levy is released.
If you’re having tax problems
Tag: IRS asset seizure
The IRS can generally seize your assets when you fail to pay your tax debt and the IRS has sent you the proper notices in the mail. Even if you owe tax debt and have received these notices, you can still protect assets if you negotiate a resolution to your tax problems.