As we have mentioned in other parts of our website, many taxpayers have difficulties paying their looming tax debts. Non-Collectible Tax Status is perfect for certain taxpayers if they can prove that paying for the tax debts outright will lead them to severe economic hardship. The taxpayer must prove to the IRS that this is the case in order for the IRS to flag an account as Currently Non-Collectible Status.
There are plenty of reasons beyond economic hardship to request this status:
- Inability to tack or locate the taxpayer
- Expiration of the statutory period of collection
- Inability to collect from taxpayers as they reside in a foreign country
- A corporation liquidated in bankruptcy
- Death of the taxpayer and a zero possibility of collection from their descendants or descendant estate
Call Pairett CPA, PLLC at 940-498-7422 today!
If you believe you can qualify for Non-Collectible Status, let Pairett CPA, PLLC help you determine if you meet the requirements. If you do, we can prepare a comprehensive argument to support your request. If the IRS accepts the negotiated petition, the IRS will stop trying to collect your outstanding tax debt. In addition, any and all levies or garnishments are released.