When your account is placed in uncollectible status, it allows you to remain in tax compliance status, without worrying about enforcement action. It also allows you to recover from a financial setback.
If you are unable to afford an Installment Agreement, “Currently Not Collectible” status, also referred to as (CNC) may be an option. We may be able to help you apply for CNC status if your income is not enough to support your allowable living expenses. Once considered Not Collectible, the IRS will temporarily suspend collection activity against you until it is determined that your financial circumstances have improved and you may be able to begin repaying your tax liability
"Currently-not-collectible" standing may generally apply if the Internal Revenue Service will certainly not have the ability to accumulate any type of owed tax obligations or fine charges if:
The fact that you do not have beneficial possessions for the Internal Revenue Service to confiscate might serve as a temporary option. If your account is regarded to be non-collectible, the IRS will quit the collection process up until your financial circumstance improves as well as another form of tax resolution ends up being much more realistic. Interest and also penalties will continue to build up against you, and you will certainly need to give financial statements yearly to verify whether you are still "currently" unable to pay the amount owed.
Because of advancements in our technology, we are able to communicate with the IRS electronically, its as if we are in the same office! Faster service and more cost effective!
If you are not happy with our tax services within the initial 21 days, we will give you a 100% refund of services rendered, no questions asked!
You find it, we will match it! Tax Alliance will match and beat (by 10%) any competitive offer. Contact our office today and receive a free no obligation tax consultation.
If you are not happy with our tax services within the initial 21 days, we will give you a 100% refund of services rendered, no questions asked! We help our clients nationwide!