Do you know how an IRS wage garnishment can affect you financially? IRS wage garnishment can leave you to live on little money. There is so much at stake when this problem hits your pocket. Furthermore, when it resolves IRS back taxes that were filed with your employer, it can take so much out of your paycheck. So, if your boss knows about it, your career might come to an end. Plus, you would have trouble finding a way to settle both unemployment and IRS wage garnishment.