Fresh Start Tax LLC Since 1982 IRS Tax Experts A Professional Tax Firm “A” Rated by the Better Business Bureau
Yes it is right here in the IRM of the Internal Revenue Service. For those who are experiencing an economic hardship there is a tax procedure for IRS shelving your case for a certain length of time because of your current financial situation. Call us and find out how!
If you need to hire professional tax help, check us out today. We are the real deal.
The IRS IRM Manual Provisions:
5.16.1.2.9 (04-29-2011)
Hardship
Follow the procedures in IRM 5.15.1, Financial Analysis Handbook, to determine the correct resolution of the case based on the taxpayer’s assets and equity, income and expenses:
A hardship exists if a taxpayer is unable to pay reasonable basic living expenses.
The basis for a hardship determination is from information about the taxpayer’s financial condition provided on Form 433–A, Collection Information Statement for Wage Earners and Self-Employed Individuals or Form 433–B, Collection Information Statement for Businesses.
Generally, these cases involve no income or assets, no equity in assets or insufficient income to make any payment without causing hardship.
An account should not be reported as CNC if the taxpayer has income or equity in assets, and enforced collection of the income or assets would not cause hardship.
Hardship accounts are closed using cc 24 through 32. See Exhibit 5.16.1-2.
