|
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 Houston 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 Currently Not Collectible status and once again begin collection
efforts. This can take the form of wage garnishments, liens, levy's, seizures,
etc. Also, the Houston taxpayer should be aware that the Houston 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 Houston Tax Attorneys. Priority Tax Relief 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 take the first step
and Call Us for a FREE Confidential Consultation. Call Priority Houston Tax Relief TODAY!
Call Us Now at
1-888-776-7770.
|