Currently Not Collectible
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Can’t Afford to Pay the IRS? Know Your Rights! Watch this Video:
What can you do, if you can’t afford to pay the IRS?
One of the ways to get out of paying off your tax debt is to be declared “currently not collectible.” The IRS can declare you as being currently not collectible after it reviews evidence that you have no ability to pay the tax you owe. As soon as the IRS determines that you cannot afford to pay any of your tax debt due to economic hardship and declares you currently not collectible, the IRS must immediately stop all collection activities including levies and garnishments.
While you are in the currently not collectible status, the 10-year statute of limitation on tax debt collection continues to run. If the IRS cannot collect the tax you owe within the 10-year statutory period, then your tax debt will expire and you’ll owe nothing to the IRS.
A taxpayer facing significant hardships or tax debt burdens should seek the advice of a tax professional specializing in resolving IRS tax debts.
At JG Tax Group, we have an excellent track record in resolving collection activity. We can negotiate with the IRS for you to have the IRS agree to stop their collection actions and not require you to send them any money until such time as you can afford to send them some money each month. We will stop the IRS from sending you those nasty collection letters, and you won’t have to worry about the IRS taking your salary, bank account, car or even your home to pay the debt.
Success Story 1
This client came to JG TAX GROUP with garnishments and bank levies. The client had failed to file individual and business tax returns for four previous tax years. After JG Tax Group prepared their returns the client owed the IRS approximately $50,000. When the client notified us that they mailed the returns JG TAX GROUP contacted the IRS and had the clients’ total debt declared CURRENTLY NOT COLLECTIBLE.
David, outstanding work, you have done for us everything you said you would and it all went as you predicted. I am absolutely thrilled at the outcome.
Everyone of your group that I have had contact with, especially Matt has been on top of this and has always been there for me when needed. I have had no direct contact with the IRS as you handled it all. Professional, helpful, friendly. The best of the best. In my line of work I deal primarily with high end professional clients giving me some insight as to dealing with pro’s. Your group made me feel at home. All Pro’s.
Success Story 2
This client came to JG TAX GROUP with unfiled taxes going back to 1996. JG TAX GROUP assessed the situation, contacted the IRS, and was able to get the client declared as CURRENTLY NOT COLLECTIBLE on their $287,360.00 tax debt.
Dear Gentlemen & Lady,
Your goal has been accomplished! I now feel as though I have my life back! I JUST opened my CNC letter (see attached) and am sitting here with a BIG grin on my face, which may last for days…. :o)))
Although I know I’m not completely out of the woods yet, it sure is a good feeling to see, and feel some sunshine on my face regarding this matter. I would collectively like to extend to everyone involved a very grateful and heartfelt “THANK YOU” for a job well done.