S CORP, C CO GOOD THINGS COME
‘IRISH I KNEW THAT SOONER!’ 6 Fun Facts About St. Patrick’s Day
Cashing in on the ‘Curre
To many people, a Currently Not Collectible (CNC) status seems like you are kicking the can down the road. When one of our clients is in CNC status, the debt isn’t eliminated, but rather, the IRS determines the client is unable to pay the debt at the current time, and they review the status every year or two to determine if anything has changed to enable them to pay the liability. Because the client is still responsible for the debt, they often wonder: “How is this a beneficial tactic for resolving tax debt?” Today, many people are just not making the same income they once did, and if they are, inflation is devouring that income. Although
Year after year, we celebrate St. Patrick’s Day with green shamrocks, leprechauns, pots of gold, and Lucky Charms, but did you know that St. Patrick was actually British? Even more surprising, St. Patrick isn’t even his real name!
clients own their debt, paying it back at this time would undoubtedly cause hardship. When they have proven hardship to the IRS, they put the client in CNC status and hold off on collection for a year or two. The IRS will not attempt to collect from them;
Get ready to celebrate the luck of the Irish while impressing others with some fun St. Patrick’s Day trivia.
even if they file a lien, they are not likely to seize or levy any of the client’s accounts or properties. But the debt doesn’t vanish into thin air; the IRS will revisit the client’s ability to pay back the amount due later.
The man’s British roots run deep. St. Patrick isn’t Irish — he was born in Britain around the end of the fourth century. Legend has it that at 16 years old, he was kidnapped and sold into slavery by Irish raiders. After six years, he was able to escape back to Britain and returned to Ireland much later as a Christian missionary. Ireland named him the country’s patron saint after he passed away. March 17 isn’t St. Patrick’s birthday. Many believe that we celebrate St. Patrick’s Day on his birthday, but it’s actually the day he died in 461 A.D. That’s not his name. As mentioned earlier, St. Patrick is not his real name! When he became a bishop, Maewyn Succat changed his name to Patrick. He didn’t banish snakes. Legend has it that St. Patrick banished all of the snakes from Ireland. In fact, even some portraits depict him doing so. However, fossil records show that snakes were never present in Ireland around his lifetime. Corned beef and cabbage originated in America. On March 17, everyone loads up on corned beef and cabbage in celebration, but did you know that in Ireland, they ate ham and cabbage, and the corned beef tradition actually began in America? In the 19th century, Irish Americans bought leftover corned beef from ships returning from China. The first St. Patrick’s Day parade happened in America. Many believe that St. Patrick’s Day was first celebrated in Ireland, but in 1737, the first St. Patrick’s Day parades actually took place in Boston and New York City.
Irish Pancakes Inspired by TheKitchyKitchen.com
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