Video instructions and help with filling out and completing Fill Form 843 Garnishment

Instructions and Help about Fill Form 843 Garnishment

Hi I'm John Myrna and this week's video blog is who can intercept your tax refund your tax refund safe from garnishment it's a big question this time of year tax time can be an exciting if you're anticipating receiving a tax refund for some the anticipation can turn to anxiety as they are significantly behind on paying their debt there are two ways a creditor can intercept your tax refund the first is by getting it from the IRS directly before you receive it and the second is to garnish the bank account you deposited in or hold it in the general rule is federal law only lets state and federal agencies intercept your tax refund private creditors or individuals you owe money to cannot get your refund from the government so who can intercept my refund specifically well the Treasury offset program allows federal government agencies to collect outstanding debts by intercepting the tax refund to pay the debt state agencies as I say can also offset to pay past due court-ordered child support payment the list of people that can generally offset the tax refund ARS Falls the IRS obviously for back taxes debt owed to federal agencies as we said outstanding court-ordered child support overpayment of federal benefits including Social Security overpayment of unemployment benefits student loan debt which is a big one debt owed to state government agencies as I said who can take the refund from my from your bank account that is a little different as I said private creditors and collection agencies are not able to go to the IRS and have them turn over the tax refund however once your refund is deposited into your bank account either electronically or manually the money can be garnished the creditor will take the full amount also in order for the creditor to be able to do this they must have first sued you and obtained a judgment if you have an unpaid debt and have moved recently you need to be careful if you've been sued and the notice was served on you but it went to the old address you may not know the judgments out there you can check the court website the Virginia Court website in the city or county you lived in to find out if there's a judgment so what can you do check with the bankruptcy attorney to see if the outstanding debt is dischargeable in bankruptcy if you file a bankruptcy before your tax return you can possibly eliminate the debt and protect your tax refund the other option is to request your refund by cheque and take precautions when when cashing it if you're concerned about someone taking your tax refund it might be a sign you need to talk to a bankruptcy attorney many people try to use their tax refunds to plug the dike of bad debt only to end up using using a bankruptcy to rebuild their credit wouldn't you rather keep your refund and use the bankruptcy to rebuild your credit also you'll be ahead of the game thank you for watching this week's blog I look forward to talking to you again you