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Posts Tagged ‘tax relief’

tax debt resolution

Tax Debt Resolution Through Currently Not Collectible

September 08, 2014

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 a 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 that the taxpayer is capable of paying the tax debt ...

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penalty abatement of taxes

Penalty Abatement of taxes

September 02, 2014

Ideally, cooperation with the IRS by filing and paying your taxes on time is advised for tension and penalty-free tax life, but if you haven’t, do not panic. Penalties can still be abated if you have a reasonable cause. The IRS applies penalties for filing a tax return late and/or failing to pay taxes you owe by the deadline. Generally, failure to file tax returns calls for a greater penalty than failure to pay them. IRS ...

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