If paying both basic living expenses and IRS tax liability is causing you economic hardship, you may qualify for being granted tax relief from IRS by obtaining Currently Not Collectible Status. What is Currently Not Collectible Status? If the IRS places your tax account into Currently Not Collectible status, the IRS will no longer be…
Continue reading ›Struggling to pay your taxes? Can’t afford to make ends meet? Will Harmon, ESQ, CPA, IRS EA, can help you apply for hardship status with the IRS. To learn more, contact Harmon Tax Resolution, LLC today. How to Apply for Uncollectible Status If you can prove that you cannot pay your tax liability and living…
Continue reading ›Certain taxpayers are surprised that they owe additional income taxes yearly even though their employer withholds taxes from their weekly paycheck. Having an outstanding tax debt is not as uncommon as you think, and there are many reasons it could happen. About 24% of all Americans owe back taxes. If you’re among them, you know…
Continue reading ›To qualify for Currently Not Collectible (“CNC”) status, one must prove that they cannot pay any portion of the taxes owed. In addition to showing earnings are only enough to cover allowable living costs, one must demonstrate a complete lack of resource availability from borrowing, whether from a bank, credit card, or any associate’s lending…
Continue reading ›There are several options to consider when one has a tax balance owed to the IRS. One can seek an Offer In Compromise; one could utilize Installment Plan options, or most likely as a last resort, to declare a form of bankruptcy. In these options, the tax debt is reduced. However, there is an option…
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