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Risks and Benefits of Obtaining ‘Currently Not Collectible’ Status With the IRS

Many responsible Americans file their taxes on time, but simply cannot afford to pay what they owe. If you count yourself among these unfortunate individuals, relief may be available in the form of ‘Currently Not Collectible’ (CNC) designation. If your account is deemed not collectible, you could be spared many of the negative consequences that […]

How Do You Qualify For ‘Currently Not Collectible’ Status With the IRS?

You’ve incurred considerable tax debt and are concerned about your inability to pay; what now? If installment payments are not currently an option, it may be worth your while to explore an alternate approach: Currently Not Collectible (CNC) status. Read on to learn more about this option — and how qualification works: What Does It […]

What is CNC? Will Your Tax Case Qualify?

What is CNC? Will Your Tax Case Qualify? You know that you owe back taxes, but due to your current situation, you cannot afford to pay your reasonable living expenses along with extra money toward taxes. The Internal Revenue Service might assess your financial situation and agree with you, classifying your account as Currently Not […]

Your Hardship Letter to the IRS: Do’s and Don’ts for Currently Non Collectible

The Internal Revenue Service sometimes assesses a taxpayer’s debt ratio and affords him or her the opportunity to delay collection on the account. The IRS calls this action currently not collectible. While the government does not erase or forgive the debt, it determines that you do not have the means to pay right now. The […]