What if you find yourself in a situation where you owe taxes to the IRS but cannot afford to pay both your tax liability and your basic living expenses? In such cases, you may qualify for Currently Not Collectible (CNC) status, which temporarily halts collection actions by the IRS.
Determining your eligibility for CNC status requires a thorough financial analysis of your personal finances as well as any businesses you may own. At McCauley Law Offices, we can assist you in reviewing your income, expenses, and tax liability to determine whether you qualify for CNC status.
Eligibility for CNC status is based on your unique financial circumstances and the amount of back-tax liability you currently owe. If your allowable monthly expenses exceed your gross monthly income, and your other assets are significantly less than your balance with the IRS, you are likely eligible for CNC status.
We handle the entire process on your behalf. You provide us with your financial information, and our team conducts a detailed analysis to generate a comprehensive report. This report is then presented to the IRS to demonstrate that a Currently Not Collectible determination is appropriate in your case. With our expertise in both financial matters and legal advocacy, we are well-equipped to assist you effectively.
Exploring Other Options
If you do not qualify for CNC status but still feel that paying your back-tax liability is unaffordable, there may be alternative options available to you. Our team can evaluate your situation and provide guidance on the best course of action.
Don’t let the IRS pressure you into a payment agreement that you cannot afford.
At McCauley Law Offices, we understand the complexities of tax law, and our experienced attorneys are ready to help you navigate the process and find the best solution for your financial situation.
Take the first step toward achieving relief from tax liability and regaining control of your financial future.
Call our law office at 610-388-4474 to schedule your risk-free consultation.
The challenges of selling a house became apparent to a taxpayer when they discovered an outstanding federal tax lien just before the closing. With insufficient equity to cover the tax liabilities, negotiations with the IRS proved fruitless, leading to the unfortunate loss of the buyer. Desperate for a resolution, the taxpayer reached out to our firm. We promptly recognized the need for a federal tax lien discharge and skillfully pursued it with the IRS. The successful discharge enabled the taxpayer to sell the property with a clear title, saving them from financial distress.