by Jay Freeborne , Enrolled Agent
January 3, 2010

If you or your tax professional can demonstrate to the IRS an inability to pay back your debt, the IRS will often grant you "currently NOT collectible" or "CNC" as they call it.

If you do have equity in real estate -- be prepared to get a denial letter from at least two lenders -- showing that you can't pull money out the house/land. Go to lendingtree.com or another lender to get that rejection letter. Be sure also to keep your APPLICATION, showing how much money you asked for in the loan request. Always ask for a little more than what you owe the IRS.

For 30 years, WATAX has been solving every kind of tax problem. Call us at 1-888-282-4697 or email us a description of your tax issue and we'll contact you.

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