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Tag: cnc status

How to Appeal When You are Denied CNC Status

how to appeal currently not collectible status denial

  Currently Not Collectible (CNC) status can provide you with temporary relief from tax debt collection efforts by the IRS. However, if you applied for but were denied CNC status, all hope is not lost, as you have the option to appeal this ruling. A tax attorney can be a great ally during this process… Read more »

Currently Not Collectible Status: Everything You Need to Know

currently not collectible status

If your current financial situation does not allow you to pay your taxes, the IRS may place you in “Currently Not Collectible” (CNC) status. By demonstrating substantial financial hardship, the IRS will stop trying to collect from you, and will cease any levies on your assets and income. However, this status only lasts temporarily. Your… Read more »

How Bankruptcy Affects IRS Collections

bankruptcy and the IRS

  Bankruptcy and the IRS Bankruptcy may temporarily delay collection activities by the IRS. However, some types of tax debt are not dischargeable in bankruptcy, so the IRS may be able to resume their collection efforts once the automatic stay is lifted.

5 Ways to Stop an IRS Levy

How to Stop an IRS Levy

  How to Stop an IRS Levy When the IRS is about to levy your assets, you should look for any possible opportunities to stop or delay the levy. Once the levy happens, it’s very difficult to get that property back, but there are several ways to stop a levy before it takes place.