I was recently interviewed on CNN Radio Marketplace and discussed an IRS policy that helps taxpayers who are experiencing financial hardship.
In this nation’s weak economy, a lot more taxpayers won’t have the money to shell out what they owe to Uncle Sam. If you’re in this boat and unable to pay your tax liability, you should call the IRS and work with them to have your account declared “currently not collectible”.
Note that your definition of inability to pay may be different than the IRS’s definition. You have to prove that you are in financial hardship and therefore it will be necessary to provide income and expense information to the IRS either by phone to Automated Collections or Customer Service or you may be required to submit a Form 433-A.
Our team of expert tax attorneys, enrolled agents, and CPA’s can help you negotiate to have your account placed in a “currently not collectible” status so that you will not be required to make any payments to the IRS. This option may provide you with an opportunity to wait for the collections statute to run and the liabilities to expire.
Call us at 866-IRS-Problems for your free tax relief consultation.
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