Tax Defense Network understands that in certain cases when faced with a large tax debt, taxpayers simply cannot afford to make payment. The Internal Revenue Service has different payment plans, outlined on TaxDefenseNetwork.com, for taxpayers who can pay their full debt amount or a portion of their debt amount. For taxpayers who cannot afford to pay anything toward their tax debt, there is Currently Not Collectible status.
Kay Wolfson from TaxDefenseNetwork.com’s Online Business Development explains: “When a person is in Currently Not Collectible status, all IRS collection actions, like wage or bank levies, stop, and they are not required to make payment toward their debt.”
To be granted Currently Not Collectible Status, the taxpayer must prove that making payment to the IRS would put them economic crisis. The IRS expects a taxpayer to attempt to get a loan or use liquid assets to pay off their tax liability and will closely examine income, expenses, and assets to judge whether or not a taxpayer qualifies for Currently Not Collectible. A taxpayer truly must be experiencing economic hardship to qualify.
Former Tax Defense Network client Jason O. was experiencing economic hardship after not fulfilling his tax obligations for many years.
“I made a lot of money as a truck driver and didn’t have the discipline to pay my taxes,” Jason remembers. Tax Defense Network handles many truck drivers like Jason who are often 1099 employees and are required to withhold their own taxes from their income.
Jason had a tough few years and wanted to turn his life around. The first step was to resolve his tax debt. Tax Defense Network’s Foxhound Legal team, seen at TaxDefenseNetwork.com, analyzed Jason’s situation and after an in depth analysis of his income and expenses, found that he was eligible for Currently Not Collectible Status.
“TDN [Tax Defense Network] put me into non-collectible status which gives me a new lease on life,” explains Jason with relief. Jason was able to start anew without having to struggle to make payments toward his tax debt.
“TDN gave me hope when I didn’t have hope,” Jason says gratefully.
Tax Defense Network is a national tax debt relief company with an A+ rating from the Better Business Bureau. Their team of licensed tax professionals, enrolled agents, and certified public accountants has helped over 90,000 clients with their tax problems including resolving over $120 million in client tax debt. Visit their website at TaxDefenseNetwork.com.