By negotiating placement on the IRS' Currently Not Collectible (CNC) status The Tax Lady Roni Deutch and her law firm were able to cease collections against a group of taxpayers who owed the IRS over $2.6 million in aggregate.
North Highlands, CA (PRWEB) August 22, 2008 -- In July 2008, Roni Lynn Deutch, A Professional Tax Corporation, successfully negotiated placement on Currently Not Collectible status with the Internal Revenue Service (IRS) on behalf of 55 clients who collectively owed $2.6 million in IRS back taxes.
"The economy is on everyone's mind these days," claims The Tax Lady Roni Deutch. "Almost everyday there are news segments on the economy and a looming recession. Unemployment rates are at record highs and everyone around the country is feeling the effects of the poor economy. Some families are even struggling to meet basic living expenses such as food and transportation, and therefore can't repay their owed back taxes. These families are ideal candidates for what is known as placement on the IRS' Currently Not Collectible status."
Currently Not Collectible status is a designation the IRS uses to indicate that it cannot collect from a particular taxpayer at that time. To qualify for the designation, a taxpayer must have filed all necessary tax returns and must not have the ability to pay their tax liability in full or through a monthly payment. To determine whether a taxpayer can pay in full or through monthly payments, the IRS reviews the taxpayer's monthly income and expenses, as well as the value of his or her assets. Typically, the IRS places a taxpayer's collection account into Currently Not Collectible status only after determining that the taxpayer cannot pay his or her back tax liability in full or does not qualify for a monthly payment plan because his or her income is exceeded by his or her expenses.
"The 55 clients lived all across the country," stated Justin Hein, a Managing Attorney at the law firm. "Each client owed on average approximately $48,000.00, with the highest single tax liability being nearly $480,000.00. Most of the clients' cases were successfully concluded within one year, but it is important to remember that the amount of time it takes to negotiate a settlement with the IRS depends on a variety of factors, including how quickly the taxpayer can provide financial documents requested by the IRS."
Once the IRS places a taxpayer's account into Currently Not Collectible status, the IRS immediately ceases all collection activity against the taxpayer. Thus, the IRS will no longer issue collection notices, notices of intent to levy, final notices, or a notice of levy. In addition, the IRS will immediately stop any active levies on bank accounts or income, or already in place wage garnishments. A federal tax lien may be filed, and interest and penalties will continue to accrue until the tax liability is paid in full or expires. Also, if the taxpayer's financial situation improves, the IRS can remove the individual from Currently Not Collectible status and ask them to begin making payments.
"I strongly encourage taxpayers struggling with IRS back taxes to call my law firm," continues Ms. Deutch. "Sometimes people do not realize that they have options. The IRS is willing to negotiate, and even cease collections if you show them you cannot afford to fully repay your tax liability. The lawyers at my law firm are skilled at negotiating with the IRS and know how to get taxpayers the resolutions they deserve."
Getting placed on the IRS' CNC status is only one of the various services that Roni Lynn Deutch, A Professional Tax Corporation offers. The firm has experienced tax lawyers specializing in tax debt relief through a variety of tax relief services including: Offer in Compromise, Installment Agreement, Wage Garnishment Release, Bank Levy Release, Revenue Officer Assistance, Payroll Tax Representation, Tax Account Review, and Full Pay Service. Qualifying for any of these tax relief services is dependent upon the independent facts and circumstances of each client.
Millions of people recognize tax attorney Roni Deutch as The Tax Lady. She has been helping taxpayers nationwide resolve their tax liabilities for seventeen years. As an industry leader, she has saved her clients tens of millions of dollars and has helped thousands of families settle their back taxes.
About Roni Lynn Deutch, A Professional Tax Corporation
Roni Lynn Deutch, A Professional Tax Corporation is a nationally recognized law firm that has been helping clients find solutions to their back tax liabilities for seventeen years. To find out more about the law firm or its IRS tax relief services, visit their website at RoniDeutch.com or call 1-888-TAX-LADY. To learn more about The Tax Lady Roni Deutch you can visit her blog or YouTube profile.
Contact:
Mathew Guiver
Roni Lynn Deutch, A Professional Tax Corporation
877-232-8477 Ext. 1914
http://www.ronideutch.com
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[Via Legal / Law]
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