“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.…
A tax or IRS levy is an administrative action by the IRS under its statutory authority to legally seize property to satisfy a tax debt. This is in contrast to a lien which is a legal claim against property to…
