Naples & Fort Myers Attorney for Currently Not Collectible Tax Debt

Sometimes a taxpayer, like yourself, cannot afford to pay back his/her tax debt. If you cannot put any money towards your debt, you can work with a Naples tax attorney to get the IRS to put your account in a Currently Not Collectible (CNC) status.

Your Naples tax attorney will be able to determine your eligibility for CNC status. After an evaluation of your financial situation is conducted, if it is found that you do not have assets or sufficient income to pay off any of the debt, you will likely qualify for CNC status.

Once the IRS places you in a CNC status, they can no longer collect money or seize property or assets from you.  If your financial situation improves, you will have to start paying off the debt or the IRS will begin the collections process against you; however, if your financial situation does not change you will remain in CNC status.

There is a statute of limitations of 10 years for tax debt. If you are unable to be financially stable throughout the 10 years, the IRS will not collect. If you are in a financially better situation after 10 or more years, the IRS will never be able to collect past due tax from you, and your debt will be forgiven.

Remember, just because you were granted CNC status does not mean you are free from paying your tax debt as this status comes with rules and stipulations. For example, penalties and interest will accrue while your financial situation improves. And, every couple years, you will have to provide updated financial information to the IRS to determine eligibility.

Naples tax relief attorney Todd D. Babbitt knows the qualifications for you to get CNC status. He will review your situation and see if you are eligible for CNC. If you are not eligible, he will find another way for you to pay off your tax debt.

Financial hardship is not easy, and you should fight for the chance to gain some breathing room with paying off your tax debt until your financial situation improves. Attorney Todd D. Babbitt can let you know if you qualify for an CNC status and will explore other options with you if you are not eligible.

Count on Naples and Fort Myers tax relief attorney Todd D. Babbitt to help find a cost-effective way for you to pay off your tax debt. Call him today to get a free consultation to see if you are eligible for the CNC status.