#Taxlife
(Our blog)
Currently Non-Collectible (CNC) Status and What It Means
As we mentioned in our article about expense standards during the collection process, the IRS generally collects information about your income and allowable expenses to determine how much you could potentially pay them each month toward back tax debt. Currently...
Unfiled Tax Returns
It's not uncommon for some families to have a few years where they did not file tax returns with the IRS for whatever reason. Sometimes people simply forget due to life events, or they feel that because they won't be able to afford the tax debt the return would create...
Tax Debt Statute of Limitations (CSEDs) and How It Works
A statute of limitations is a length of time an authority figure can pursue a matter after the incident in question happened. If you've watched TV shows like Law and Order you may be familiar with the term in the legal sense, where crimes have various statutes of...
IRS Expense Standards for Collections
Any time you're negotiating with the IRS about paying a tax debt — whether it's to set up a payment plan based in income or to prove that you can't afford to make payments — you'll need to provide documentation to prove your income and household expenses. When it...
Obtaining an IRS Installment Agreement to Pay Tax Debt
In cases where you’re not able to pay the entire balance due while filing your taxes, seeking an IRS installment agreement can be an ideal way to stay current with the IRS and avoid collection action. That last bit is one of the biggest advantages to set up an...
Pillars Need Support Sometimes
Planning your taxes properly can be the difference between achieving your goals and being on the street, as this taxpayer found out. This taxpayer came to us with a $40,000 assessment and a house full of children. But the children weren’t hers. She had put together a...
Freedom From the Shackles of the Drug Tax
This taxpayer had come a long way. A youth spent selling drugs and running with gangs lead to incarceration. Luckily, the taxpayer reformed, used the time in prison to advance their skills, and found good employment upon release. About a year into employment, a...
Lemon-Fresh Cleanup for the Janitor
We have many small business people who need our help. Often, these taxpayers go through difficult life events (divorce, death in the family, family issues) that affect the business, which result in unpaid and unfiled taxes. In this instance, our client had a small...
Saved Marriage From Unfiled Tax Returns
Many of our clients with unfiled returns don’t file the returns out of fear of the unknown. They don’t think they can pay, or they are worried about what the numbers on the paper say about them. Unfiled returns cause much greater issues than unpaid taxes. In this...