What can you do, if you cannot pay the IRS the amount you owe in full?
One of the ways to get out of your tax debt is to be declared "currently not collectible." The IRS can declare you as being currently not collectible after it reviews evidence that you have no ability to pay the tax you owe. As soon as the IRS determines that you cannot pay any of your tax debt due to an economic hardship and declares you currently not collectible, the IRS must immediately stop all collection activities including levies and garnishments.
While you are in the non-collectible status, the 10-year statute of limitation on tax debt collection continues to run. If the IRS cannot collect the tax you owe within the 10-year statutory period, then your tax debt will expire and you'll owe nothing to the IRS.
A taxpayer facing significant hardships or tax debt burdens should seek the advice of a tax professional specializing in resolving IRS tax debts.
At JG Tax Group, we have an excellent track record in resolving tax disputes. We can negotiate with the IRS for you to have the IRS agree to stop their collection actions until you get back on your feet. You'll stop getting those nasty collection letters from the IRS, and you won't have to worry about the IRS taking your salary, bank account, car or even your home to pay the debt.
