currently not collectible

How Long Does A Status Of “Currently Not Collectible” Last?

“Currently Not Collectible” (“CNC”) status exists when the IRS categorizes a taxpayer’s account as uncollectible. This status may occur when the ten-year statute of limitations for collecting a tax debt expires or the IRS is unable to locate a taxpayer. It may also occur if a taxpayer maintains that he or she cannot make monthly payments to repay tax debt because such payment is an economic hardship.

You Can’t Pay Your Tax Bill In Full? You Have Options…

Taxpayers that have tax liabilities they are currently unable to pay, have options. A knowledgeable and experienced tax attorney can assist and inform taxpayers of all of the options available to settle tax debt. First and foremost, taxpayers should take action as soon as possible, and still file their tax return even if they cannot pay their tax bill in full. The IRS charges penalties and daily interest on unpaid tax bills, thus waiting only increases overall tax liability. After determining and estimating what, if anything, they can pay to settle their tax liability, taxpayers have the following options:

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