Thursday, January 3, 2013

IRS Tax Relief -- IRS Hardship Requirements -- Eligibility for Currently not Collectible

The IRS can designate a financially struggling taxpayer as Currently not Collectible (a/k/a Currently Uncollectible"). Having an IRS Hardship will end all IRS collection activity against you and will delay payment of your IRS tax debt.

Your IRS Tax Relief team at Flat Fee Tax Service, Inc. will be lead by an experienced IRS Tax Attorney who has many years of experience getting IRS tax relief for taxpayers like you.




Flat Fee Tax Service, Inc. has built and maintained a reputation for having an IRS Wage Levy stopped and released in 1 day (within 24 hours). It is typical that clients contacting Flat Fee tax Service, Inc. have an IRS levy (wages or bank levy) either in place or about to be executed against their assets.



Flat Fee Tax Service, Inc. has many clients who are on Social Security, Social Security Disability (SSDI) or are on a Veteran's Pension. The IRS can (and will) levy your government pension through the Federal Payment Levy program (FPLP) and take an automatic 15% of your check.

Flat Fee Tax Service, Inc. will have your levy stopped and released in 1 day.

If you are a financially struggling taxpayer and/or on a fixed income such as Social Security, Social Security Disability (SSDI) or Veteran's Pension, you may be able to secure an IRS Hardship designation or you may be able to settle your entire debt through an Offer in Compromise (OIC). The IRS has made an IRS settlement easier to obtain through their Fresh Start Initiative. Not everyone is eligible but more taxpayers are eligible than ever before. 

The IRS has a complex formula for acceptance as either Currently not Collectible or for an IRS settlement through the Offer in Compromise Program know as the Fresh Start Initiative.

The IRS looks at the following items in their determination:
  1. Gross monthly income. 
  2. Allowable Expenses. (rent, mortgage, utilities, car payment(s), upkeep of your auto, credit card payments, student loan payments, child support, alimony, court ordered payments, health insurance, term life insurance are some of the expense you are allowed to have).
  3. Assets. (available equity in your home, 401K, IRA, autos, boats, RV's, paintings, collectibles, etc.)
When you put together the above items properly, we can determine your ability to pay the IRS the back tax debt that you owe. Along with the IRS financial formula, a big part of your effort to obtain Currently not Collectible status or a complete IRS settlement will be the IRS Revenue Officer who is handling your IRS petition as well as your experienced IRS advocate. 

There are caps or limits on the amounts of your allowable expenses. Your experienced IRS Tax Attorney at Flat Fee Tax Service, Inc., who will be your tax advocate during your IRS negotiation, prepare your documents for a successful Offer in Compromise.

If you receive Currently not Collectible status with the IRS, collection enforcement will cease for approximately 12 to 18 months. The IRS will file a Federal Tax Lien and your credit may be affected but all collection activity will stop. The IRS will periodically review your file. You may need to provide the IRS will bank information as well as a new 433-F form.

During your time as Currently not Collectible, the Statute of Limitations will continue to run. You may end up paying nothing. The Statute of Limitations is determined by the date of assessment of your back tax debt. It may be better to file for an IRS settlement through the Offer in Compromise program which could have your tax debt free in as little as five (5) months.

If any of the following situations pertain to you:
  • File unfiled / delinquent tax returns.
  • Have received an IRS Notice of Intent to Levy.
  • Have an IRS Levy at your bank or on your wages.
  • Need IRS Penalties to be abated.
  • Need to negotiate an IRS Installment Agreement.
  • Need to be declared to be Currently not Collectible.
  • Need to settle with the IRS for less through the Offer in Compromise Fresh Start Initiative.

CALL ME AT:

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dave@flatfeetaxservice.com



I am Dave Rosa, the V.P. of Client Relations at Flat Fee Tax Service, Inc. I will provide you with a free, honest and straightforward consultation. During or time on the phone, I will gather the necessary information that will provide us with an action plan that will resolve your IRS problem. 

Below are the reasons why our clients have chosen Flat fee Tax Service, Inc. to resolve their Tax debt problems:

  1. We are guided by our Christian Values.
  2. Flat Fee Tax Service, Inc. is Accredited by the Better Business Bureau and maintains an A-Rating with no client complaints.
  3. Experienced IRS Tax Attorneys will resolve your IRS problem.
  4. Flat Fee Tax Service, Inc. provides our clients with Affordable Fees.
  5. Flat fee tax Service, Inc. provides all of clients with credit and can extend the fees out over an eight (8) to ten (10) month period.
  6. The IRS tax relief team at Flat Fee Tax Service, Inc. is reliable, credible and thorough.
  7. Flat Fee Tax Service, Inc. will get the job done with positive result.

THE FLAT FEE TAX SERVICE, INC.

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1 comment:

  1. If you owe the IRS and are looking to settle for less or be declared Currently not Collectibe, contact Flat Fee Tax Service, Inc.

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