If you owe the IRS a substantial amount, be sure not to ignore it. Review options such as installment agreements, extensions, or personal loans, and always seek legal advice from a professional tax attorney.
If you’re having tax problems
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 »
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 »
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.