Can a wage levy be stopped by agreeing to a voluntary payment plan?

Can a wage levy be stopped by agreeing to a voluntary payment plan?

  • September 12, 2018
  • David Greene
  • Comments Off on Can a wage levy be stopped by agreeing to a voluntary payment plan?

The answer depends on who is levying the wages.  The South Carolina Department of Revenue will not release a levy after it has attached until the levy is paid in full.   They take 25% of the employee’s gross (before taxes) income.  Many times they will agree to cut the amount in half if the levy is causing a hardship.  The IRS will release a wage levy if the employee can agree to a voluntary Installment Agreement.  Depending on how much he owes in back taxes, this might be a Streamline Agreement, where he does not give them any of his financial data, or a regular Installment Agreement.  In this case the amount of the monthly payment depends on his current financial situation and is calculated based on that.

 

Tags: , , , , , , , , , ,

Office Location

11 McGee Street
Greenville, SC 29601

Phone: (864) 271-7940
Fax: (864) 370-3413
Toll Free: 1-800-216-1116