As the taxpayer, if you find yourself in a financial culdesac and cannot pay the tax debt owed to the IRS, your account could be considered Currently Not Collectible. The taxpayer will need to prove to the IRS that they are going through a financial hardship and cannot make payments and have no assets to liquidate. The IRS will review documents submitted by the taxpayer proving that do not have the funds and assets to pay what they owe.

After the IRS has agreed that the taxpayer does not have the funds to pay the taxes owed the account is put in a Currently Not Collectible status (CNC) and will stop trying to acquire funds. The IRS will lift levies and stop garnishing the taxpayer’s wages. A statement will be sent to the taxpayer annually showing the individual what they owe, however, it is not a collection bill, simply a notice. While the taxpayer’s account is in CNC status, the 10-year statue of limitations still applies so if the IRS cannot collect their money within the allotted 10 years, the tax debt is lifted.

Consult an expert tax attorney to see if CNC is an option for you. You want to be able to pay your debt while still being able to provide for yourself and your family. You need to be represented by an expert and our experts are standing by, waiting to review your case. This is not something you have to go through alone. Call us today.

When you work with our team, you trust your situation to former IRS Tax Attorneys, CPAs, and Tax Professionals. Our goal is to help you keep what’s yours, recover your funds, and protect your future. Have no fear, for we are passionate about helping you win!