Q: With a tax levy will the IRS take my whole paycheck or will they only take a portion of it every pay period
A: Your human resources department will be sent a formula to follow to determine what they can take. You are usually left with a small amount. Without more information I cannot tell you what you will be left with after the levy. Frequently a tax attorney can set up an installment agreement that will have a lower monthly payment amount then what you will pay through a levy. We can also advice you as to whether you are eligible for an Offer or some other collection alternative. Stay away from the places you see advertised on tv and speak with a good tax attorney. Most of us offer a free consultation.
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