“Currently Not Collectible” or CNC
In this program, you do not have to pay anything
to the IRS! As long as we can legitimately write off
all of your expenses, you can qualify to enter this
program and not pay any tax back. You can stay in
this program until your IRS debt expires, which is 10
years from the day you filed your return that yielded
the tax liability. The IRS will look at your expenses
once a year to ensure you can stay in the program
until the statute of limitations expires.
Streamline Installment Agreement Program
I’ve been practicing Client Services for yIn this program, we can structure your IRS tax debt
with payments up to 84 months at a low-interest
rate, with no more penalties (25% a year). You must
promise the IRS you will file your Federal Tax returns
on time and pay the taxes that are due for those five
This program is far different than you, the taxpayer,
simply calling up the IRS and negotiating payments
directly. You will pay the FULL amount of the taxes
you owe, plus high interest and the heavy penalties
that compound yearly. It will feel like you’re making no
progress at all in paying off your debt. This is the worst
agreement you can negotiate, and a clear sign to the
IRS they are dealing with an amateur.
YOU MUST GET PROFESSIONAL ADVICE!
In this program, we can make an offer to pay off the
taxes, based on your assets and your inability to earn
more money in your lifetime. This program works
best if you are retired with some assets, or disabled
with some assets, and cannot qualify for the CNC
program. only 16,000 were approved. Of those approved
applications, almost all were lodged by an Enrolled
Agent and NOT the taxpayer.
Most taxpayers DO NOT qualify for the Offer-
In-Compromise option. You MUST put up at least 20% of the tax debt at time of application.