Financial Hardship • Currently Not Collectible Status

OVERVIEW

When taxpayers owe back taxes and legitimately cannot afford to pay the IRS, there is a solution – it’s called the Currently Not Collectible Status or CNC status. It’s a temporary status, but it can be a life saver. It’s also the next best thing to an Offer In Compromise, and it has a much higher approval rate.

The IRS may not cause a financial hardship, in the process of collecting your back taxes. However, when tax problems are being ignored and requests for information is not received in a timely fashion, the IRS’s actions may cause financial hardship – this is why communication is key.

When the IRS recognizes that you are unable to afford to pay your tax debt, they will stop wage and bank levies and put all collections on hold; however, they will not stop the count down on the collection statute expiration date. Therefore, if over the collection statute period, you are never able to afford to pay your back taxes, the balance due will expire and become uncollectible, giving you a clean slate. 

While you are in the CNC status, the IRS will continue to levy your federal and state tax refunds. The IRS will also issue a lien to protect their interest and they will re-assess your hardship status periodically.

OUR APPROACH

The financial hardship status has allowed many of our clients to regain their financial footing and, in some cases, drastically reduce their tax debt.

Our approach to tax problem resolution is always to work within the boundaries of the law, while prioritizing your best interest. As a part of our analysis and advisory process, we will help you determine if you qualify for the financial hardship status, implement the resolution as applicable and secure levy releases currently in place. 

If we find that an Offer In Compromise would be a better fit, opposed to the CNC status, we will also work with you to secure a settlement instead. – CLICK HERE to learn about our Offer In Compromise solution.

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833.7.TAXLEY

WE ARE HERE FOR YOU

M – F 8a – 6p EST

CALL THE OFFICE

833.7.TAXLEY

SCHEDULE A FREE CONSULTATION

» CLICK HERE «

WE ARE HERE FOR YOU

M – F 8a – 6p EST

Top notch service. I had a few tax issues and Taxley handled them all promptly, professionally, and to a successful completion. If I have any tax needs in the future I will be sure to use Taxley…

Jason O. - Philadelphia, PA

Thank you Anisha for your great service, dedication, and your diligence. I am satisfied, relieved, and grateful for taking care of years of on going problems with the IRS. Thanks to you!

Khaled A. - Houston, TX

Anisha is great! She is very knowledgeable, prompt, and friendly. Working with her made tax preparation go smoothly. It was also very convenient to do most of the work through…

Joshua and Latisha H. - Dayton, OH

Anisha is wonderful!! I’m glad I worked with her this tax season. She was very knowledgeable, personable, and prompt. Before we were done working together, I had already referred…

Andrea U. - Atlanta, GA

I give Anisha an A+ for her work on getting my taxes together. She is knowledgeable, extremely bright and kept her word. When I started with Anisha, my taxes were in disarray she…

Albert M. - Dayton, OH
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Don’t Wait, Get Started Today

Now’s the time to push past your fear of the IRS and get the help you need to fix your tax problems, because tax debt relief is the new reality of self-empowerment and financial freedom. Call the office or schedule a free consultation today.

SCHEDULE A FREE CONSULTATION

» CLICK HERE «

CALL THE OFFICE

833.7.TAXLEY

WE ARE HERE FOR YOU

M – F 8a – 6p EST