In this episode, tax attorney Juda Gabaie explains how the IRS’s “currently not collectible” status (commonly known as hardship status) works. From qualifying criteria and strategic documentation to pitfalls and misconceptions, Juda breaks down the realities of this temporary relief option. He also shares practical insights on statute limitations, lien consequences, and the importance of proper financial analysis when seeking IRS relief.
Key Timestamps:
00:00 – Introduction to hardship status and the IRS’s “currently not collectible” designation 01:50 – How interest, penalties, and tax refunds are treated during hardship 02:51 – Common life events that trigger hardship eligibility 04:23 – Juda’s process: financial reviews, POA, IRS compliance 06:09 – What the IRS scrutinizes most in hardship applications 06:26 – Misconceptions about hardship status and what it doesn’t do 09:18 – Why not everyone qualifies for hardship, even if they think they do 10:26 – Documentation errors and other common client pitfalls 13:14 – Expense limits, allowable deductions, and IRS standards 14:31 – Must-haves for building a successful hardship case 16:26 – Long-term considerations: liens, refunds, and expiration of tax debt
About the Show:
The Power of Tax Defense Attorneys: Tax Corner with Juda Gabaie features expert tax attorney Juda Gabaie of Gabaie & Associates, LLC. Hosted by Kevin Rosenquist, the show provides actionable insights for individuals and businesses navigating complex tax issues and IRS controversies.
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.