Applying for Currently Not Collectible (CNC) status with the IRS can be a way to avoid paying your taxes immediately.
However, the IRS is not so quick to grant you CNC status, and will only do so after a thorough inquiry. You must also be current in filing your tax returns to be considered.
The IRS can grant CNC status to both individuals and businesses when they are unable to repay their delinquent taxes.
For many, this is a great way to prevent bank levies, wage levies, seizure of assets, etc. However, there are still situations where the IRS will take enforcement even if your account is in CNC status.
Remember, you must be in compliance with all current tax obligations to be considered. It’s best to consult with a tax relief professional, as filing for CNC status may not be your best move.
Learn more about Currently Not Collectible Status at the official Fortress Tax Relief website.