Ask Experts Questions for FREE Help !
Ask
    Chica_849's Avatar
    Chica_849 Posts: 1, Reputation: 1
    New Member
     
    #1

    Feb 6, 2008, 02:27 PM
    Income tax garnishing from the military
    I have a military credit card and Im worried they may garnish my taxes. How much are they allowed to garnish and is there any way to find out before or do I have to wait till I get my check and see?:confused:
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #2

    Feb 6, 2008, 04:53 PM
    They can attach bank accounts for the amount up to the amount of the debt. So once it goes into the bank, it is fair game
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #3

    Feb 11, 2008, 03:43 PM
    I agree. Garnishment actions for debts on military credit cards can be swift and rather painful.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Do I have to file Income Tax on S.S. Income? [ 5 Answers ]

Regarding filing Income Taxes (over age of 70), on Social Security Income? Is there an amount of Social Security Received for the year that dictates whether I have to file Income Taxes on "only Social Security" only income earned in 2007, or any other year?:rolleyes:

Tax return garnishing [ 1 Answers ]

Can a credit card company garnish my federal return when it is a jointly filed return when debt is in my name only

Estate Tax, Trust Co Tax, Affect on Income bracket [ 1 Answers ]

I am receiving $5,000 from a Trust Company my grandparents set up for when they pass on. I was told that the Trust Company would tax that $5,000 dollars, is that proper and can anyone cite specific references? Further, I understand that money will not be taxed by the IRS but will it affect my...

Income tax treatment of sales tax on improvement to rental property [ 3 Answers ]

For income tax purposes, major improvements to my rental property must be depreciated over a period of years. Can I take the sales tax on those improvements as a deduction in the year of the improvement, or must the sales tax amount be included in the depreciation schedule? Thank-you, ...

Income Tax on Social Security & Interest Income [ 1 Answers ]

I collect SS, withdraw interest income monthly and sell real estate. I am wondering since my interest income & real estate commissions exceed the SS allowable income cap of $12,000 will my SS for the next year be reduced? Will my real estate expenses be deductible from taxes owed on my...


View more questions Search