Currently Not Collectible Tax Status
Is your unpaid tax bill in a currently not
collectible status? Should your account be placed in a currently not
collectible status? Would any collection attempt cause an extreme hardship
or is just not logically feasible?
The Internal Revenue Service has the option
of placing your tax account in a currently not collectible status if they
determine that they are presently unable to collect the taxes from you by
any means. Once the account is placed in this status, the IRS doesn't
attempt any collection activity against you and the statute of limitations
on the tax bill will continue to run. This may sound like your problem is
solved, however, it may not be as good as it sounds.
WARNING: You must be aware that if
your financial situation changes before the time limit runs out, the IRS
can remove you from the status and once again begin collection efforts.
This can take the form of wage garnishments, liens, levy's, seizures, etc.
Also, the taxpayer should be aware that the statute of limitations doesn't
always start the minute the tax is initially due. It can be tricky and you
should have an attorney to protect your assets. It is often in the
taxpayers best interest to make an agreement, such as an Offer in
Compromise, with the IRS now, when your financial situation is in trouble,
rather than wait until you start making money again and letting the IRS
collect in full.
On the other hand, if you have very little money, no valuable assets or
only assets that you are dependent upon, you could attempt to resolve your
account by having it placed in the currently not collectible status. This
can be a risky proposition unless you meet certain criteria because the
IRS can come back on you anytime.
Whether you are presently in the currently
not collectible status or think you should be, you need to talk to our
Professional and Experienced United States Tax Attorneys. Priority Tax Relief
United States will explore all the options available to you in order to protect your
current and future assets and put this debt behind you once and for all.
All you have to do is Call Us
for a FREE Confidential Consultation. Call Priority Tax Relief United States
TODAY!
Call Us Now at
1-888-716-4539.

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