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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16576
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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J. Are there any programs relief distressed communities that

Customer Question

Hello, I am Alfred J. Are there any programs for tax relief for economically distressed communities that a tax payer owes over 25,000.00?
Submitted: 1 year ago.
Category: Tax
Expert:  Megan C replied 1 year ago.

What specific type of tax relief are you seeking? IRS debt or local tax debt? I'm not certain from your question

Customer: replied 1 year ago.
IRS debt
Expert:  Megan C replied 1 year ago.

There are several things you can do -- there is a status called currently not collectible status where if you are financially burdened the iRS agrees not to try to collect -- after 10 years they can no longer collect.

You can do an offer in compromise but those are rare especially if the IRS believes you can make payments.

You can also set up a payment plan.

You can call 1-***-***-**** and speak with someone. The key is being upfront with the IRS.

There are no 'special programs' for those in economically distressed communities, however

Please let me know if you need anything additional. If not, please rate positive.