A CP71C Letter Came From The IRS - What Now

A CP71C Letter Came From The IRS - What Now

One who receives an IRS CP71C letter, it is because the IRS is owed money for tax, penalty and interest, and one is likely in Currently Non-Collectable status. Currently, Non-Collectable status means one is in financial hardship and unable to pay the IRS.  The IRS is not pursuing collections but they do inform the taxpayer of the outstanding tax balances.  Currently Non-Collectable status doesn’t eliminate one's tax balance.

    • Related Articles

    • What If One Never Received A Collection Letter

      In the event that a consumer has never received a collection letter from a collection agency, a collection entry (also known as "tradeline" or "TL") on a consumer's credit report can be considered an "initial communication" triggering a consumer's ...

    • IRS Says Irrevocable Trust Is Responsible For Taxes

      Here is what the IRS website says itself in quotes, "An irrevocable trust is a trust which the grantor has no control over" and cannot be repealed or annulled. "The trust will be responsible for reporting income on form 1041." Every word on the IRS ...

    • What Is The Letter of Banking Authorization

      The Letter of Banking Authorization gives a third-party the ability to perform a banking action on behalf of the trust, which can be limited or unlimited in it's latitude (e.g. just open a bank account one time OR transact with bank accounts as seen ...

    • Can One Obtain 7 Years of Tax Refunds From The IRS

      As stated inside Lawful Money Secrets, any money owed to the IRS prior to redeeming in lawful money is still owed. We cannot give more advice on this issue. No one likes to hear this, but it's about moving forward with the correct thinking / actions. ...

    • Skip Using Letter of Direction When Hiring An Attorney

      Skip using a Letter of Direction (LOD) because the payment will go to attorney and they will cut a check to you and the claimant.