Final answer:
An IRS tax levy generally takes the highest priority compared to child support, student loans, and other garnishments, due to the federal government's strong collection powers. Child support usually follows, then federal student loans, and finally other garnishments.
Step-by-step explanation:
When determining the priority of financial obligations such as child support, student loans, garnishments, and an IRS tax levy, the IRS tax levy usually takes the highest priority. In the United States, the federal government has extensive powers to collect taxes owed, making an IRS tax levy one of the most powerful collection tools. This means, if you owe unpaid taxes and the IRS issues a levy, they may seize your assets, including wages and bank accounts, before other creditors receive payment.
Following the IRS tax levy in the hierarchy of priority would typically be child support, as these payments are mandated for the well-being of a child and are often enforced by state law. Student loans, especially federal student loans, may take the next priority, followed by other forms of garnishments, which are court-ordered debt payments, including those for credit card debt or medical bills.