Currently Not Collectible
No Money to Pay Taxes or to Keep Paying Back Taxes?
We Can Stop IRS Collection of Tax Debt!
If your economic circumstances have deteriorated and you have too little money left after you pay for the essentials of living: rent, utilities, groceries, etc., you may qualify as Currently Not Collectible (CNC). This means that the IRS will stop trying to collect back tax debt from you, even if you currently have a payment agreement with them.
Our tax debt specialists will determine if this is the best option for you, and if so, help you receive Currently Not Collectible status. This will cease collection activity to give you some breathing room until your economic circumstances improve. It is important to note that CNC will not make your tax debt go away and it will not stop interest and penalties from growing on your unpaid tax debt. Therefore it is necessary that you contact a tax debt specialist to find all solutions that are best for your personal financial situation and end your tax debt nightmare.
You should consult with New Horizons Tax Relief to determine whether applying to the IRS for CNC status will help you or hurt you with your financial situation.
To qualify as Currently Not Collectible, the IRS will use a formula to assure that the reason that there is too little money left after you pay for living essentials, is that YOU mean the same thing by “living essentials” as the IRS does. If a taxpayer’s expenses are inflated, the argument won’t fly. The IRS uses published standards for how much a taxpayer is allowed to pay for rent, utilities, groceries, commuting, etc. that are adjusted for factors like family size, marital status and region of residence. Nothing is simple under the tax law and it would be prudent to get a sense from a qualified tax professional whether you qualify as Currently Not Collectible before you try to make this assertion to the IRS. Figuring out whether you qualify for CNC, and often more importantly for those whose economic circumstances are changeable, figuring out whether you are better off economically to seek CNC status, is something that New Horizons Tax Relief specializes in and can help!
But You Need to Take the First Step!
What are you waiting for? We can’t help you until you take that first step. It’s up to you! You have nothing to lose, and the consultation is FREE. Call and schedule an appointment, and we can go over all the ways we can help you. All matters discussed will be confidential. Even if you’ve been turned down before. Don’t wait another minute. Let us help you find your NEW HORIZONS.