currently not collectable debt relief can resolve your tax problems.
Your financial situation is different from anyone else. You should take the time to review this tax debt relief options guide to find the best solution for your needs and goals.
Currently Not Collectible (CNC) is a status assigned to taxpayers whom the IRS has deemed unable to pay their outstanding tax debt. When a taxpayer’s account is designated CNC, the IRS temporarily pauses it’s tax collection process. This means, lifted liens and levies, no wage garnishment, suspending collection efforts, cessation of calls and letters, no further credit reporting and deferred debt payments.
What Is Currently Not Collectable (CNC)?
For a taxpayer to qualify for IRS CNC, you must demonstrate a financial hardship which, after paying for the cost of living expenses, leaves little to no room to pay off an outstanding tax debt. You must demonstrate a severe economic disadvantage and not just a mild inconvenience.
Who Is Eligible?
Eligibility Guidelines for CNC
What Happens Under CNC
The IRS has the right to review your account status for any reason at any time. Since you owe money to the IRS they have the right to determine if your financial situation has changed. Denying the IRS a request for a new collection information statement will increase their curiosity and should be avoided.[/vc_row]
What Else Should I Know?
Duration of CDC Status
How To Apply For CDC Status
Currently Not Collectible tax status puts the IRS at bay. It and allows you to live your life without IRS intrusions into your bank accounts, wages and property. When combined with the expiration of the statute of limitations on collection, CNC status it is a legitimate method of tax debt relief for your IRS tax liabilities.
Thoughts On Currently Not Collectable
Applying for IRS Currently Not Collectable tax debt relief status is a challenging task. It is strongly recommended that you have professional advice and representation when dealing with the IRS.
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