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When you realize that you have tax debts, you are desperate as there is no way out. But you can use the help of qualified tax debt relief professionals. However, your situation will be better if you take advantage of free consultations.

Delinquent taxpayers can use the aspect that the system of automatic collection of the IRS delays collections. When the IRS decides you owe money to the government, they will begin sending automatic notifications to you. These notifications are a series of letters that the IRS sends before they take action against the person to get money. Usually, the IRS will send a letter indicating the initial assessment amount due, including interest charges and penalties. Then the agency will send four CP letters. CP letters are automatically generated letters with a CP number in the upper right corner. Meanwhile, the taxpayer has about 3 to 6 months to pay the debts before the IRS takes action. To get more time respond to the letter from the IRS regarding the assessment or CP notices and let them know that you cannot pay at the current time and ask for an extension of 45 days. If the period of these extra 45 days is up and you were still unable to settle tax debts, repeat the procedure to get more time. You should not just ignore the notice sent by the agency to obtain leniency from the IRS.

Other option is Currently-not-collectible Status that means that you will not really settle the tax debt, but it will stop all the activities of the IRS. When you are put under this status, the IRS will temporarily stop collection against you. However, they will ask you to submit an updated financial statement every year to see if your situation has improved enough for them to continue collecting. Keep in mind that the limitation period is still in action during this time. If 10 years have passed, you are responsible for your tax debt.

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