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Posts Tagged ‘tax debt resolution’

Choosing the Right Tax Resolution Company

Hidden among legitimate tax resolution companies are frauds that seem operate only to scam their clients. Some well-known names such as J.K. Harris and Tax Masters turned out to be scams. In order to enlist an honest, reputable resolution company, you will want to do the following: • Check the company’s background – The ...

What is a “Formal Resolution” with the IRS?

There are two types of resolutions: informal and formal. In an informal agreement, the taxpayer works to send payments to the IRS to satisfy a debt. In a formal agreement, the taxpayer and the IRS enter into a written agreement where both agree that the taxpayer will pay a certain amount during a specific time period to pay the full balance. Resolution Requirements A formal ...

Tax debt resolution through currently not collectible

September 08, 2014  |   Tax Advice   |   Tags: , ,  

When the situation arises where you do not have the financial potential to pay the back taxes that have collected, rest assured as there is relief because of the currently not collectible (CNC) option. The IRS will require evidence of the financial austerity by form 433-F, collection information statement, before considering the person for the status of the currently not collectible. To assess ...