No. The IRS will take an income tax refund for back federal or state taxes, unpaid child support or alimony, student loans in default, and any unpaid federal or government debt.
The trustee may take the refund and distribute it to creditors because a tax refund is not considered an exempted asset under bankruptcy laws.
No. Usually a bank will send your debt to a collection agency. Most collection agencies don't have the authority to garnish your tax refund.
They WANT it in as large of amounts as possible but they take what they can get. wage garnishemnt can only take 25% of your DISPOSABLE income. You should get a notice telling you what they can and cant do.
In some states, the state will take your state refund for any debt or fine you might owe to the state or any state agency. It will depend on the law and practices of the particular state and vary from state to state.
No. Only the government can take your taxes, but a debt collector can get a court judgment against you and take your pay check.
No. The IRS will take an income tax refund for back federal or state taxes, unpaid child support or alimony, student loans in default, and any unpaid federal or government debt.
So you were expecting a tax refund from the IRS after you filed a tax return. Insteasd of getting your refund, the IRS sent you a letter saying that your refund was used (garnished) to satisfy your back tax debt. What is going on? This means that you have a back tax liablility with the IRS and the IRS will take your refund to satidfy that debt. If you got your refund check garnished and you were unaware you owed the IRS, you need to take care of this situation fast. The IRS can start enforced collections against you and go as far as garnishment of your pay and levy your bank accounts. You can find out more at wallysworldoftaxes.blogspot.com.
Yes, the IRS is entitled to dock a refund for a variety of things, including court ordered debt.
The trustee may take the refund and distribute it to creditors because a tax refund is not considered an exempted asset under bankruptcy laws.
Cancellation of debts depending on individual circumstances can take a very lengthy time. When a debt is cancelled the creditor/collector is required to send a 1099C to the debtor and the IRS. A portion of the debt then becomes taxable income.
If the debt collector is authorized to do a debit withdrawl then there is documentation that you signed authorizing same. If the documentation you signed with the debt collector does not match with the amount being withdrawled from your account, notify your bank immediatly of the fraudulent transactions. Take the documents to the bank. Do not prewarn the debt collector that you are doing this.
I had a car that was financed through HSBC repossessed last year. It was repossessed. Can HSBC take my federal income tax refund for this repossession?
Private companies are not allowed that priviledge. Back child support on court order, federally backed student loans, IRS debt, and overpaid Social Security will take your refund.
If it is in deferred status, they will probably not take your tax refund. If your student loan is delinquent, then they will be seize your refund and put it toward your debt.
shure why not
No they cannot