irs cnc ( cURRENTLY NON COLLECTIBLE)
There are times where you agree you owe the IRS, but you can’t pay due to your current financial situation. If the IRS agrees you can’t both pay your taxes and your basic living expenses, it may place your account in Currently Not Collectible (CNC) status.
The status of “Currently Not Collectible” (CNC) is a designation used by the IRS for taxpayers who are experiencing financial hardship and are unable to pay their tax debts. When a taxpayer is classified as Currently Not Collectible, the IRS temporarily suspends collection activities, such as levies and garnishments, while the taxpayer’s financial situation is evaluated.
IRS Collection Alternatives: Currently Not Collectible Status
It’s crucial to note that CNC status is a temporary solution, and taxpayers should explore other long-term options, such as Installment Agreements or Offers in Compromise, if they anticipate a more extended period of financial difficulty.
IRS CNC (Currently Not Collectible) Status
The simplest and fastest way to resolve your tax issues. You will be declared uncollectible by the IRS/State. No bank levy, payment plans, or garnishments.
