How Good People Solve Bad IRS Problems - Nick Nemeth - Manual / Resource - Page 37
End Your IRS Problems
No ... you’re not going to do anything ... because you
can’t. If they don’t have anything except the basic
necessities -like clothes, furniture, a car, and maybe a
home with little or no equity-they are “Bullet-Proof.”
When someone is Bullet-Proof, it means they can’t be
hurt. They are already lying on the floor and can’t fall
any further. They are in a great position to negotiate
anything they want.
The sad thing is that most people who are Bullet-Proof
don’t understand the power they have. You have a
HUGE advantage in negotiating anything when you are
Bullet-Proof. Use it.
The IRS refers to taxpayers with limited or no assets
and not enough income to make tax payments as being
Uncollectible or status “53.” The number 53 stands for
the actual IRS transaction code, referring to taxpayers
with an uncollectible status.
Having the IRS determine that your taxes are
uncollectible is a very good thing and can be fairly easy
to do when you prove it. The best thing about it is that
the pain and suffering are STOPPED!
In many cases, taxpayers who have no assets and
little or no income can literally remain in uncollectible
status until the statute of limitations to collect
expires. This statute of limitations runs for ten years
from the date the IRS says you owe them money (the
assessment date).
If you can remain in uncollectible status until the 10
year statute expires ... you can literally walk away
without paying them a dime. Afterward, you’re free to
make as much money as you want ... and you are not
required to go back and pay old taxes.
WARNING: The IRS can extend the IO-year statute of
limitations to collect ... but only with your consent.
If you don’t sign the consent form, the IRS cannot
extend the statute.
So Don’t Sign the Consent Form!
The IRS is very inconsistent in its attempts to get
consent forms signed. Sometimes they don’t ask, and
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