What Is The Purpose Of This Notice?

This notice is sent 14 calendar days after the IRS approves your request for Currently Non Collectible status.

What Are Latest Developments Relevant To Me?

IRS announces new tax debt relief. On November 2, 2020, the IRS announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS. Learn more.

The new tax debt relief announcement includes:

Temporarily Delaying Collection. If you are having trouble paying your taxes, you can contact the IRS, or have us call for you, to ask for a delay in the collection process called Currently Non Collectible (CNC) status. The IRS may delay collection until your financial condition improves. Annual reminders are sent to let the IRS if you situation has changed and are able to pay. Financial statements (433 series) will be required every two years from the date the CNC status is approved. The 4624C letter will be mailed 14 calendar days after CNC status is approved.

Offer in Compromise. If you owe taxes, you might be able to pay less than what you owe by submitting an Offer in Compromise. The IRS is now offering more flexibility for some taxpayers who are temporarily unable to meet the payment terms of an accepted offer in compromise.

Relief from Penalties. If you have failed to file, pay, or deposit your taxes on time, the IRS may be able to help. You may be able to get first-time penalty abatement relief if it is your first time being penalized for failure to pay estimated taxes, failure to file, or failure to pay.

Want to know which relief option is best? Contact us today for preliminary plan of action that considers your tax situation.

What Does The Notice Look Like?

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