100+ Years of Combined Tax Resolution Experience.
Paying off your tax liability on top of your mortgage, car payment, insurance, utilities, and other living expenses can feel overwhelming. The IRS understands this and may consider you eligible for Currently Not Collectible (CNC) status.
When you owe taxes but have little or no income, CNC status may be a good option for you. If you qualify, you may be temporarily permitted to pay nothing and keep your assets. At Polston Tax, we can help you determine whether you qualify for Currently Not Collectible status and help you build your case to request this status with the IRS.
If your account gets placed in Currently Not Collectible (CNC) status, the IRS won’t try to collect from you and won’t levy any of your assets or income. Being placed into CNC will suspend all collection and enforcement activity, and if you already have a bank levy, the IRS will then release it. While this does not mean your debt disappears, it does mean the IRS acknowledges you cannot currently afford to repay it, and collection will be delayed. Eligibility requirements for CNC status include:
While in CNC, the IRS will still assess any penalties and interest to your account and may even keep your refund to help pay back your tax liability. You can also make voluntary payments to the IRS,
even if you are in CNC status. If you a
re concerned about your tax liability and your ability to pay it off, turn to us at Polston Tax. We have experience helping our clients determine whether they qualify for CNC status and supporting their case to the IRS.
If you believe you may be eligible, you need to support your case. At Polston Tax, we can help. To qualify for IRS non-collectible status, you need to take a few steps, including:
By reaching out to a tax attorney at Polston Tax, we can help you through this process and ensure everything is handled correctly.
If the IRS thinks you can afford to make some sort of payment, they will reject your request for CNC. If you disagree and still don’t think you can make the necessary tax payments, you have a couple of options.
If you determine the right option for you is to hire a tax attorney, turn to Polston Tax. Our team can provide you with assistance and consulting. The IRS typically reviews your CNC status every two years, verifying that your financial situation is the same and you still require CNC status. We can help you navigate dealings with the IRS and support your case for CNC status.
When dealing with your tax liability, it’s best to be proactive. Since the IRS can garnish your bank account or wages, you should take action as soon as possible. During financial hardship, you may be eligible for Currently Not Collectible (CNC) status, which allows you to temporarily delay when you will repay your back taxes. If you need help deciding if CNC is right for you, or you aren’t sure how to start the process, Polston Tax can help!
Our team of IRS tax attorneys and IRS tax preparers can help you get compliant with the IRS and decide which IRS resolution is best for you. If you don’t qualify for CNC status, we may be able to help you negotiate an installment agreement or an offer in compromise (OIC) with the IRS. We help hundreds of people get resolutions with the IRS every year, and we can help you get yours too. Call us at 844-841-9857 or schedule your free consultation today.
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