Tax Resolution Services – Currently Not Collectible Resolution Outcomes

Tax Resolution Services

Need tax resolution services such as currently not collectible status?

When people think of debt, it is often attributed to spending more than one has.  Tax debt, however, can accumulate for different reasons.  An individual might miss payments because of financial hardship or illness and then find they owe back taxes to the IRS plus interest and penalties.  When a situation like this arises, it is common that a taxpayer may be unable to repay the debt they’ve accrued.  Having fallen on hard times, there may just be no money available to settle the balance.

This occasion is one of the most important times to find someone to represent you to the IRS.  At Community Tax, our tax debt specialists have successfully negotiated to help clients get relief under the Currently Not Collectible program.  This settlement option, reserved for those who cannot afford to pay any of their tax balance, is difficult to attain because of some strict rules that must be followed.

All tax debt has an expiration date.  If a taxpayer is accepted into the CNC program, they are considered relieved of their obligation to the IRS.  If they maintain this status through the last expiration date of their tax balance, they will not have to pay it.  An individual can maintain their CNC status by proving that they are in financial hardship.  This means that the amount of income received in a given year is less than their total expenses.

Since last week, over 20 clients have entered into Currently Non Collectible Status.  The table below contains the information about their cases.  You’ll see which Agency approved their resolutions, the balanced they owed and the names of the team members that secured their settlements.  Their last names have been taken out of the table for privacy reasons.