The short answer
Yes. A wage levy sends part of each paycheck to the IRS until you pay, make other arrangements, or the levy is released. Part of your pay is exempt. The exempt part is based on your standard deduction and number of dependents.
The IRS usually sends a notice of intent to levy and your right to a hearing at least 30 days first.
Words to know
- Notice of intent to levy
- An IRS notice that it plans to take your property. CP504 is one. LT11 and Letter 1058 give hearing rights.
- Wage levy
- An IRS levy on your pay. Part of each paycheck goes to the IRS until it is released. Often called a garnishment.