Owe the IRS Money and Can’t Make Payments?

One of my favorite tax problem solutions is to have the IRS declare my client Currently Not Collectible (CNC). This is for citizens who cannot make even the smallest payments on their outstanding debts. Maybe they are out of work, short or long term, or maybe they just do not make enough income to pay all of their expenses. If this is the case, CNC status is often the answer.

CNC is also available to businesses who are not profitable. Many times the IRS is taking action and levying their bank accounts or accounts receivable because they have not filed all of their tax returns or paying their current taxes. They must get caught up and I have to send their financial information to the IRS showing no ability to pay the old debt. It is often obvious, even to a Revenue Officer, that the taxpayer is not collectible at the present time.

Sometimes, CNC is a temporary solution. When the taxpayer gets back on his or her feet, the IRS will inquire to see if there is an ability to pay. Other times, there is no change in the citizen’s financial situation and ultimately the ten year Statute of Limitations runs and the debt is forgiven.

Florida Tax Attorney for CNC

We have many tools available to solve IRS problems. CNC is one of the best because it allows our clients to get through hard times without the threat of IRS Collection. To learn more about how we can help, contact us for a free consultation.