IRS Currently not Collectible
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IRS Currently not Collectible Help
The IRS will consider a taxpayer’s current financial situation when determining whether they should be required to make payments toward an outstanding tax debt. If a review of the monthly household income and expenses of the taxpayer suggests that they do not have excess monthly income and making a payment to the IRS would cause a hardship, the IRS will allow their account to be placed in not collectible status. While in not collectible status, the IRS will not pursue enforcement action such as bank levies or wage garnishments while the statute of limitations continues to run (tax liabilities generally expire after ten years), and the taxpayer is not expected to make any payments toward the debt for a period of at least two years. After this time, the IRS may periodically review the account and the taxpayer may be required to start making payments if their financial circumstances have changed.
The Tax Professionals at Legacy Tax Partners, have extensive experience working with IRS Appeals Officers, Revenue Officers and Collection Agents and understand how the IRS will interpret a taxpayer’s financial information. We do the financial analysis with our clients to determine whether they are candidates for currently not collectible status and work with them to obtain the necessary supporting documents to successfully establish the resolution. We have obtained non-collectible status for thousands of clients even when they have had significant equity in assets and/or have historically been high income earners.
See What the IRS Has to Say About Currently Not Collectible:
https://www.irs.gov/businesses/small-businesses-self-employed/temporarily-delay-the-collection-process
Legacy Tax Partners, can help you with your IRS Currently Not Collectible Tax issues today.
Please feel free to Contact Us regarding your IRS Currently Not Collectible Status. We can quickly and efficiently analyze your circumstances and propose various options of resolution.
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If you have IRS Tax Problems. We are Legacy Tax Partners the Tax Experts that can help to eliminate any tax issues that you and your family are experiencing.
We off a FREE IRS Tax Consultation. Call Today or make an appointment tomorrow.
We have an in-depth understanding of the intersection of corporate, state and federal tax laws enables us to help our clients take advantage of Las Vegas, Nevada’s business-friendly environment. We know what it takes to work successfully with individuals and businesses seeking to minimize tax burdens and off you tax relief.
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The IRS will aggressively pursue enforcement action against any employer that fails to timely file its quarterly federal tax return or make its quarterly payroll tax deposit, and can seize business assets, close down business operations, file tax liens, impose significant penalties, hold business owners personally responsible, and file criminal charges.
The experienced Tax Professionals at Legacy Tax Partners have successfully resolved complex payroll tax disputes for thousands of clients with a view to:
- Ensure continued business operations, minimize imposition of penalties,
- Minimize imposition of penalties,
- Avoid assessment of personal liability against owners and officers, and
- Resolve the underlying tax liability.
A wage garnishment is legal procedure by which the IRS seizes a taxpayer’s income directly from the taxpayer’s employer. Wage garnishments occur only against W-2 wage earners and are continuous in effect.
Therefore the IRS does not have to re-issue a wage levy in order to garnish every paycheck of an employee. Wage garnishments usually takes up to 85% of an employee’s paycheck.
Self-employed individuals (who earn 1099s) can also be levied, however the IRS is required to re-issue a levy notice prior to every single payment of income for self-employed individuals. How can an IRS wage garnishment be STOPPED?
Call us today, we can help stop your Wage Garnishment Fast.
What Legal Grounds Does the IRS Have to Levy?
The Internal Revenue Code contains section 6331, which authorizes the IRS to levy in order to collect delinquent taxes.
What is the Difference Between a Levy & a Seizure?
None. They involve both the IRS’s taking of a taxpayer’s property to satisfy an unpaid amount.
Tax Levies are used to take bank accounts, wages, other income, or other receivables. Seizures are used to take cars, houses, and business property.
What Legal Grounds Does the IRS Have to Levy?
The Internal Revenue Code contains section 6331, which authorizes the IRS to levy in order to collect delinquent taxes.
We can help you with all of your IRS Tax Burdens. Call us we offer a FREE Private no obligation consultation
Let us show what we can do. We have been helping thousands of people like you nationwide saving time
and money by allowing us to handle your IRS Tax Burdens.
CONTACT US: (855) 900-1333