Being in a position of financial hardship is stressful, and the IRS breathing down your neck never makes the situation easier. If you owe tax debt and have no financial ability to pay it back, you’re not alone. Attorney Harris can stop collection actions against you until you’re able to get back on your feet.

By qualifying for a “currently not collectible” status, the IRS will place a temporary hold on your account. This means that all collection actions will cease until you’re in a better financial position to pay back your taxes. It will not be lifted from your account until records show that you can pay back the money you owe without being at an economic disadvantage.

How to Qualify for Currently Not Collectible Status

If you can’t afford to pay back your tax debt, you may qualify for currently not collectible status. Attorney Harris is experienced in working with the IRS to determine your eligibility. To qualify, you must demonstrate that you have no money left over after paying for essential living needs and that you have no assets that are worth seizing.

If you think you qualify for currently not collectible status, call the Law Office of David J. Harris for assistance. He will work with you to ensure all of your financial information is in order so that you can find relief from the constant IRS bombardment. When determining your essential living expenses, the IRS subtracts the following categories from your income:

  • Food, clothes, and miscellaneous expenses
  • Healthcare expenses (paid out-of-pocket)
  • Housing and utility costs
  • Transportation costs

Ideally, the leftover funds would go towards your tax payments. However, if the IRS determines that making these payments puts you at an economic disadvantage, your account would be considered currently not collectible. Any tax liens, bank levies, and wage garnishments will be released until your financial situation improves.

As long as your account remains in uncollectible status, the IRS will not hassle you for payments. However, if your financial situation improves, the collection process will resume. Interest and penalties also continue to accrue on your account. Everything will need to be repaid should your account be removed from CNC status before the 10-year statute of limitations for tax debt is up.

Experienced Tax Lawyer 

When you need help with your tax debt, an IRS tax relief lawyer is here for you. Though it’s not easy fitting into the currently not collectible category, Attorney Harris will help you navigate the complexities of this process. He has extensive knowledge of all the tax laws surrounding this situation and will work to stop the constant calls from the IRS.

When you have limited financial resources, contact the Law Office of David J. Harris today to see if you qualify for currently not collectible status. He will carefully review your income and provide you with the necessary next steps to achieve financial relief. With over 35 years of experience, he is dedicated to obtaining the best possible results for your situation.