Currently Not Collectible Assistance

If Your Taxes Are More Than You Can Afford to Pay, You May Qualify for

Currently Not Collectible Status

If you owe money to the IRS, their goal is to get you to pay as much as possible — even if you can’t afford to settle an outstanding balance. But you have options. If you are experiencing financial difficulties, the IRS offers special provisions for you to pause collection activity. You may qualify for Currently Not Collectible (CNC).

At Polston Tax Resolution & Accounting, we can help you obtain hardship CNC status by completing the necessary research, forms and negotiations. Back tax obligations are more manageable when you have the support of our specialized CNC tax services. Connect with us to learn how to declare hardship and buy time until your financial situation changes.

Tax Hardship Programs

What Is the IRS CNC Tax Program?

If IRS notices continue to pile up, but you’re experiencing economic difficulties, the IRS offers hardship tax relief options for individuals and businesses. CNC Status (Status 53, Currently Not Collectible) is an IRS hardship payment alternative that allows you to defer payments if you meet qualifying criteria.

Once approved, the IRS pauses collection actions around your qualifying tax debt. You can halt payments for tax debt accrued over the past 10 years. While the interest will continue accumulating, CNC status allows you to breathe and improve your financial situation without the risk of wage garnishments or bank levies.

CNC status is a short-term solution. It does not erase your unpaid taxes. The IRS will review your financial situation every two years to confirm or revoke eligibility. During that time, you can focus on getting back on your feet while the tax professionals at Polston Tax seek strategic solutions for resolving your tax burden.

Keep in mind that if your income status changes at any point, you will most likely lose your CNC status and be required to make monthly payments again.

Do You Qualify for Currently Not Collectible?

Any taxpayer who cannot make monthly payments on taxes owed may apply to the IRS for Currently Not Collectible status. However, they must meet certain eligibility requirements.

To qualify for CNC status, you need to show the IRS that you can’t pay your taxes because you’re going through a tough time financially. They will ask for details about your finances and personal situation, a process that usually follows these main steps:

Apply for CNC status: Any taxpayer unable to pay their monthly tax balance may apply for CNC status. You will need to disclose your gross monthly income in the application process.
Provide a monthly expenses outline: The next step will be to outline your monthly allowable expenses. These are the costs associated with welfare, health, production of income and other necessary expenses. You must also disclose liquefiable assets like stocks, bonds or sellable commodities like gold or silver. The IRS may request information about motor vehicles, credit reports, real estate and other personal property for cases involving more than $100,000 in debt. This will help the IRS determine how much you could pay currently.
Calculate back-tax liability: Finally, you are responsible for calculating your back-tax liability with the IRS. Our tax professionals can provide you with accurate calculations and guidance.
Eligibility determination: Eligibility for CNC status usually depends on allowable monthly expenses exceeding monthly income and liquefiable assets being significantly less than total IRS back-tax liabilities.

Once the IRS has determined that you qualify for Currently Not Collectible status, they will be unable to garnish your wages and levy your bank accounts. However, you will still owe all past-due taxes, and they may continue to accumulate penalties and high interest rates.

With Polston Tax, you can address this risk with personalized solutions to meet your unpaid tax requirements.

Let Polston Tax Help You Apply for CNC Status

Applying for Currently Not Collectible status is complex and challenging without an experienced tax professional guiding you through the process. Along with proving that your financial hardship is severe enough to qualify, the application process requires a deep understanding of tax liability, and you must accurately complete forms such as IRS Form 433-A, Form 433-F or Form 433-B.

One misstep and you may miss out on the benefits this program could bring to your financial situation. Polston Tax uses the combined resources of over 100 attorneys and tax professionals to make the process as smooth and stress-free as possible.

These forms prove your inability to pay back taxes by confirming the following information:

Personal information: Contact information, age, Social Security Number and other personal details
Employment and income information: Job title, pay stubs, employment history and employer contact information
Information about additional sources of income: Retirement pensions, social security payments, alimony, investment dividends and other secondary income
Financial information: Bank accounts, credit cards, investments and insurance policies
Court proceedings: Information about any court proceedings against you
Expenses: Three months of utility bills, food expenses, housing expenses, transportation costs, medical bills and other relevant information

The Benefits of CNC Support From Polston Tax

Polston Tax is here to assist you through the processes of declaring hardship and navigating tax debt. We employ financial attorneys and experienced tax professionals who understand IRS hardship programs like the Currently Not Collectible classification and will ensure you receive the support you qualify for.

Our support through CNC tax services entails the following:

Financial analysis: We will gather all relevant information about your case from the IRS, including the amount you owe, the years for which you owe and your Revenue Office queue status.
Collections hold request: We will submit a collections hold request to protect you while we perform our analysis.
Hardship planning:We will use our findings to recommend the best tax hardship strategy personalized for your situation.
Comprehensive assistance: We will guide you through every step of the process, ensuring every form is precisely filled out and the IRS receives all needed documentation.
IRS negotiation: Our team will communicate with the IRS on your behalf to further your CNC request.

Why Choose Polston Tax for CNC Tax Service

At Polston Tax, we connect people and businesses with IRS tax relief. Whether that’s Currently Not Collectible status or another tax resolution option, our experienced team of tax professionals works tirelessly to take the weight of tax troubles off your shoulders.

When you choose nationwide tax relief services from Polston Tax, you can be sure of:

Experience: We’ve been in business since 2001, and our team has over 100 years of combined tax experience — we know the IRS inside and out.
Team approach: Every tax attorney, case manager and tax professional on our team has one goal — resolving your tax problems.
Awards: We are continually recognized for our impeccable representation of our clients’ interests.

Find Hardship Tax Relief Available Nationwide

Polston Tax has more than two decades of experience supporting individuals and businesses through financial hardship and tax debt. We will work closely with you to execute the optimal tax resolution strategy for your situation.

Learn more about hardship tax relief or begin the CNC application process with the experienced team at Polston Tax guiding the way. Please get in touch with us online today.

TAX RESOLUTION SERVICES

That Deliver Results

Polston Tax has extensive experience resolving IRS and state tax issues, reducing or eliminating liens and wage garnishments, assisting with audits, and many more tax and financial-related services.

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Currently Not Collectible