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What Is "Currently Not Collectable" With The IRS - Tax Resolution Institute

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Uploaded on Aug 23, 2010

Peter explains 'Currently Not Collectable' Status with the IRS to Bob in Seattle - http://www.taxresolutioninstitute.com.... For Tax Resolution help with tax problems, call (877) 829-8370 or visit http://www.taxresolutioninstitute.com

"From Bob in Seattle: What Is 'Currently Not Collectible' status with the IRS?' "

If you cant pay your taxes. The IRS will put you in CNC status. (Currently Non‐Collectible) There's no debtors prison. If you cant pay your taxes, the IRS will still give you food and clothing, a roof over your head, an automobile, (payment and operating expenses), health insurance and a provision for current taxes so you don't add liability to liability. There are also other things. You can make between 4 and 8 thousand dollars a month and still be in CNC status. This doesn't meant that the liability goes away but the IRS is not going to pursue collection activity you don't have to worry about levies on your bank account, levies on your paycheck, and your employer doesn't have to know about your tax problem. CNC Status is temporary but the IRS doesn't typically doesn't revisit until 1‐3 years once they put you in that status.

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