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The Statute of Limitations it is very important to determine on what date the notice of assessment started, because this starts the clock running with the 10 years.
A lawyer or CPA firm may just do tax law on the side and not be dedicated to knowing the ins and outs of IRS negotiations.
To cash you "save" by not hiring a reputable tax attorney may be the most expensive money in your life. And you may have a long time to consider the cost of going it alone as you write big checks to the government for the rest of your life.
Don't forget that if this article hasn't provided you with exact canadian income tax relief information, you can use any of the main search engines on the Internet, to find the exact Canadian income tax relief information you need.
Just realize that in order to obtain an agreement, the taxpayer must be current on all tax filings. If you have not filed your tax returns there is no way to know for sure how much you owe and what your penalties and interest may amount to.
You must either have worked for the IRS for five years and used the tax code regularly or taken a comprehensive exam that has to do with all the ins and outs of taxation.
The insolvency exclusion is too complex to thoroughly discuss here, but let's just say that if you don't have many assets and you have substantial liabilities you can possibly exclude a portion of the cancellation of debt from income on your tax return.
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by: D Kulkarni
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