Sentences with phrase «uncollectible taxes»

Not exact matches

Sometimes a creditor, after trying to collect from you, will decide that the debt is uncollectible and will «charge off» the debt in order to get a tax break.

This type of agreement can lead to you paying less than you owe because as the collection statute expiration date (CSED) expires for each year you were assessed taxes, that debt becomes «uncollectible.»

A: Yes, you should consider other options before trying to be declared uncollectible because a Currently Not Collectible Status or IRS hardship generally comes with a tax lien.