Currently Not Collectable

When a taxpayer has a negative cash flow and has equity in assets that the taxpayer is dependent upon, the taxpayer could attempt to resolve their tax debt by having it placed on a Currently Not Collectible (CNC) status depending on their financial circumstances.

The IRS will place a taxpayer's account on a CNC status when they have determined that the IRS is presently unable to collect the taxes from the taxpayer either by way of full payment, Installment Agreement or an Offer in Compromise. Once the account is placed on CNC status, the IRS does not pursue collection activity against the taxpayer and the statute of limitations on the tax liabilities continues to run. This means that unless the taxpayer's financial situation changes, the account will remain on a CNC status until the tax liabilities expire. However, if the taxpayer's financial situation improves the account may be taken off of CNC status so that the IRS can begin to collect the taxes through an Installment Agreement, Offer in Compromise, or even demand full payment.

Tax attorney Sherri Carver has the knowledge and the experience necessary to assist you with  aCurrently Not Collectable claim. Dealing with tax problems can be one of the most stressful times of anyone's life; Don't handle it alone! You need a tax attorney who understands tax law and how to help you end your tax problems.

Contact Our Office today for a free consultation regarding your tax problems!