Q:

Can the IRS take my whole paycheck?

A:

Quick Answer

While there are no limits that prevent the IRS from taking a whole paycheck, exemptions can be filed to protect a small portion of a person's pay. The IRS publishes a table of exemptions, which is calculated using tax and W4 exemption status.

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Full Answer

Because the IRS can bring such heavy levies against income, it's important to address tax concerns as soon as they come up. Even if back taxes that the IRS says are owed can't be paid, don't ignore bills or statements. The IRS will work with taxpayers to find alternatives for collection, including letting taxes be paid over time. Such solutions are usually only available if action is taken immediately, and some experts advise seeking the assistance of a legal tax professional in negotiating terms with the IRS.

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