I am in IRS Not Collectible Status, will it resolve my tax debt?

No, IRS Not Collectible Status (NCS) does not resolve the liability – by itself. Some explanation: IRS Currently Not Collectible Status There are several ways to deal with IRS debt.  The most common are the Offer in Compromise, Bankruptcy, Payment Plans of various types, and Read More …

Does an IRS installment plan extend the 10 year collection statute?

An IRS Installment Plan doesn’t extend the IRS Statute of Limitations period for the collection of debt. The IRS has 10 years to collect a tax debt.  The 10 year period begins on the date the tax balance is “assessed”. The tax is usually assessed Read More …

IRS LEVY – Two reasons to file the IRS Collection Due Process Appeal late

IRS LEVY? Two reasons to file the IRS Collection Due Process Appeal late The IRS is a debt collection machine. If there were an NFL Draft for debt collection outfits, the IRS would be the first player drafted every year. Part of the reason why Read More …