Whether you’re a business owner or employee, one of the possible major concerns on your plate involve wage garnishment. The United State Department of Labor defines the term as a legal procedure through which portions of an employee’s earnings are withheld by the employer in order to pay off a debt. Garnishments are usually set by a court order, though the IRS along with state tax collection agencies can levy for unpaid taxes as well.
Where does it apply?
The law is in effect in all 50 states. It’s also in effect in the Staten Island New York as well as in all other territories of the United States.
Are there special considerations?
If an employee is paying for alimony or child support, then restrictions apply. This means the garnishment law allows only up to 50 percent of an employee’s wages to be garnished, 60 if one hasn’t got a child or spouse to support.
It can be hard to figure out what to do if one or two of your employees have a court order and you need to figure out how much of whose wages need to be garnished. For employees, finding help in trying to deal with the garnishment as well as knowing your rights in matter is enough reason to ask for help.
That’s why finding the right tax professional matters. By hiring a tax pro, you’ll have the help and assistance you need right away.
Reasons to Hire a Pro
There are plenty of great reasons to hire a pro. These include:
- Understand the process. It can be daunting to go through this without fully knowing or understanding the process. With a tax professional, you can ask about everything, clarify every thing, until you have a solid understanding of what’s happening.
- Know what your next move will be. Having an expert on your side ensures you’ll know what happens next. That can take a load off your mind and help you prepare for what’s coming.
- Help you. If you want to make sure everything is in order, a pro can walk you through the entire process and help you understand that everything’s okay.
With a tax professional, you can easily find your way through thorny labor or garnishment issues. This way, you won’t have to lose sleep worrying about what can happen or what you need to do. You’ll know what that is, as soon as you consult with a tax professional.
A Kaplan CPA offers accounting and tax assistance services. Take your finances well in hand. If you would like to know more about how we can help you get with your tax situation, call us for a FREE Tax Consultation at (718)577-2582. You can also connect with them on Facebook for more updates.