Currently Not Collectible
Know When A CNC Status is Right For You
When To Consider An IRS Currently not Collectible Status
The IRS will more than likely grant you a CNC if your salary or cash flow is simply insufficient to cover the owed amount. However, they will first attempt to liquidate any and all assets that can help them recover the sum. If your assets are insufficient or they cannot be liquidated, then the CNC will be granted. This is a useful tax relief option providing that you do not qualify for a payment plan or OIC.
However you must understand that a currently not collectible tax lien can be levied on the assets that you do have in order for the IRS to ensure collectability in the future. This means that you may not be able to use them for as long as you are considered CNC. Also, it is possible to have tax debts removed completely under this status, but that is usually if the time to collect expires. Considering the financial restrictions, it is best to look into alternative solutions with one of our tax professional. Then, if a CNC is your only option, we can help make it as painless as possible.
What To Do If A CNC is Inevitable
If your IRS debt is uncollectible but you cannot qualify for complete discharge under an OIC, a CNC may be inevitable. It is usual for some type of IRS hardship assessment to be done to determine if liquidating your assets will lead to greater economic difficulty, if the answer is “yes” then they are more likely to suspend your payment, instead of seizing your belongings. Under these circumstances you will need the services of someone that understands how the IRS works, and ways to get the best possible outcome even while you have a CNC status. We are:
- A CPA certified company
- Dedicated to winning
- Well trained and experienced
- Staffed with former IRS agents who have dealt with these cases
- Used to dealing with the IRS everyday
- Easy to talk to
Do Not Rush Into A CNC
A Currently not Collectible status IRS agreement should never be taken lightly, or pursued without sound legal advice. Also, considering how vulnerable you could become, it is unwise to attempt it alone. Like most tax relief solution, this is complex and could lead to greater financial burdens if undertaken carelessly, so do not depend on luck. Let one of our tax experts advise you before you pay a dime for tax relief that may not be right for you.
The OnCall Guarantee
We understand the position many taxpayers end up in when they pay high-end firms for services that they do not get. In the end the firm gets paid hundreds or thousands, the IRS collection calls and notices are still coming, and the taxpayer has even less money than before. We believe in getting paid only if you get help, so we will refund you if no resolution can be reached.
Make the Right Choice
Avoid so-called tax lawyers who will rush you through any process you mention so that they can collect, choose OnCall and let us walk you through the solution that is right for you. If a CNC is your only option, we will make sure you get the results you deserve.
We Will Solve Your Tax Problem
- OR - We Will Refund You!.
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