40% of all taxpayers who are in the IRS collection Queue have their cases written off as non-collectible.
The non-collectible status simply means at the current time you cannot pay your IRS taxes due to a financial hardship.
The Internal Revenue Service will take a current financial statement and determine whether that is the case or not. IRS will likely use form 433 f.
If if it is the case, Internal Revenue Service will most likely write off your case for two or three years.
However they will come back to review your case at the end of a given period of time.
The penalties and interest continue to grow.
If you want to find out if you are eligible you can call a professional tax firm that can walk you through the process.
Also to note, IRS has a set of National Standards.
You will find this info at www.irsgov.org,
National Standards.
If after taking the financial statement the IRS finds that your case fits the requirements of the National Standards and you do not have the ability to pay, the IRS will put your case in hardship, which usually lasts about 3 years.
If you wish to be professionally represented call us today and speak to former IRS agents and managers.
Cant Pay the IRS – File for Non Collectable Status, IRS Experts, Affordable, Since 1982