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Currently Not Collectible

Currently not collectible status with the IRS can happen when the IRS deems that if you pay back the taxes you owe at this time, it will cause an immediate financial hardship. If you are experiencing a financial hardship, contact New York Tax Attorney Service at (347) 535-4017 to be connected with a tax professional right now.

How to get a Currently not Collectible Status:

There are multiple reasons for the IRS to mark an account as Currently not Collectible or CNC. Of these reasons, the most popular one is a financial hardship. If paying back your taxes will cause an immediate financial hardship, the IRS may put your account as CNC. This does not mean that you do not owe the full amount of your taxes; it just means that at this time, you cannot pay them. If you have had a levy placed against you, the IRS will lift it for the time being.
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A few of the other reasons are as follows:
  • Inability to locate the individual or assets
  • Expiration of the collection period
  • The death of an individual

Reasons the IRS uses Currently not Collectible

These are just a couple of reasons the IRS may put your account into CNC. The IRS will routinely check certain accounts to see if they can be placed back into regular collection status. Of course, this is determined by the reason the account was marked CNC in the first place. As stated before, the IRS will cancel a levy against your account, but a lien can still be placed against you. If the IRS reviews your account after 30 days and concludes that you can now pay your debt, they may proceed with the levy and any other collection processes they deem necessary.
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The IRS has the right to review your account when they want to. Sometimes when your account is put into CNC status, the IRS will put a date for review on the account. If you are still unable to pay when the IRS reviews your account, it will likely stay in CNC status. The IRS only has a certain amount of time to collect the taxes you owe, so if your financial situation does not improve, there is a possibility that you may never have to pay that tax debt back. Of course, you would have to stay in a hardship status and that means that you are barely able to make ends meet.

Get more information about Currently not Collectible

In certain situations, Currently not Collectible status can be a good thing. There are several instances that this would be helpful to an individual, especially if you are in a financial hardship. If you have received a notice from the IRS and are currently experiencing this type of situation, contact New York Tax Attorney Service at (347) 535-4017 to speak with a tax debt professional. You could possibly qualify to have your tax account listed as Currently not Collectible.
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Are you trying to find out if the IRS will give you a status of CNC or Currently not collectable? If you have fallen on hard times and have no possible way of paying the IRS then you may be able to be assigned a status of Currently not collectable. Call (347) 535-4017 right now to get more information and see if you can use this program to get rid of your IRS tax debt. Get the tax relief you deserve call (347) 535-4017 right now!