The Collection Due Process (CDP) hearing is one of the most important rights given to taxpayers. It’s your final opportunity to stop an IRS levy of your assets or the filing of a federal tax lien against your property.
If you’re having tax problems
Category: Currently Not Collectible (CNC)
Once you receive a Notice of Intent to Levy from the IRS, a bank levy or other enforced collection action is imminent. You need to take action immediately if you want to avoid having the money in your bank account seized and applied to your tax debt.
If you’re already having financial problems, IRS collection actions can make your situation even more difficult. Fortunately, the IRS will consider your financial issues if you ask for a collection alternative.
Currently Not Collectible (CNC) is a temporary agreement from the IRS to stop attempting to collect your past due taxes. It can provide financial and mental relief from the constant pressure of owing the IRS money. CNC status isn’t the right choice for every situation, but it does offer the following benefits: