I hope you have managed to stay safe and well! We focus on resolving tax issues in Prince William County and throughout the lower Northern Virginia area.

The ultimate goal is to satisfy your obligation to the IRS. In most cases this means paying off the assessed amount imposed by the Service. A taxpayer can also be deemed Currently Not Collectible (CNC). We’ll discuss this further, a little later.

Here are the options you have for paying off your IRS debt. 

1. Pay off the entire amount, including penalties and interest.

If you can afford to, just pay it off.  You’ll save on legal fees, but if you’re a first-time offender (in full compliance in years prior to the year you’re seeking to resolve), you may be paying penalties and interest that you might have gotten out of if you had hired someone. But what if the IRS made a mistake? Or what if you could have gotten the interest waived (i.e. reasonable cause). 

• If the IRS has made an error, get the error corrected.

They need you.  For this you need a tax resolution/representation pro – they can get into the IRS files, and find what they have within their system tied to you or your significant other. We know that It can be a little scary to talk to an IRS person directly, especially a Revenue Officer or other Field Agent.  We can review return for errors, amend returns, file paper returns to irs,  IRS errors usually refer to when the IRS files a return on your behalf (called a Substitute For Return or SFR) and only uses the information that the Service has on hand (which never seems to be much).  Normally resulting in no deductions.

• If the CSED expires while the taxpayer is CNC then the obligation no longer exists. The CSED begins on the date of assessment of the tax. The CSED is ten(10) years from the date of assessment. Certain actions taken by a taxpayer can extend the statute, like OIC applications or filing for bankruptcy.

Keep in mind you will need to prepare the proper “Cash Flow” calculations in order to arrive at the conclusion of CNC. If you’re an entrepreneur you will need to perform the same calculations for your business and use the two calculations in conjunction with one another, in order to achieve the status.

We can perform the necessary calculations for you, and make sure that all applicable information has been taken into account. Please contact us to arrange for a convenient time to discuss your specific situation.  We will handle your situation with the utmost professionalism.  We’re to help when you need us.