Can’t Pay Your IRS Tax Debt? Our Atlanta, GA tax lawyers will help you qualify for CNC (Currently Not Collectible) Status.
You may qualify for Current Not Collectible Status (“CNC”) if you have no income left (for an IRS installment agreement) after all of your bills have been paid.
If you cannot pay anything toward your tax debt, the tax lawyers at our firm can negotiate with the IRS to place you into “Currently Not Collectible” status (CNC). There is no IRS collection activity or enforced collections for any case in Currently Not Collectible status. That means that IRS seeks $0 for the past taxes owed, except that IRS can keep any refunds due from annual tax returns until the tax debt expires. In many cases, the $0 per month payment of CNC will provide the best relief to a client.
Experienced IRS Tax Defense
Atlanta, Georgia, tax lawyer Cal Bomar has handled tax problems from both sides of the table. His prior work with the IRS informs his tax defense practice today, allowing him to argue persuasively on behalf of his clients in civil tax matters involving the inability to pay back taxes. Contact us to schedule a consultation with an Atlanta tax attorney.
What Happens After You Receive CNC Status?
You will receive a letter at the end of each year stating the current balance of your debt. Periodically, the IRS may ask for an updated financial statement to see if your ability to pay has increased. As long as your income and assets remain the same, this will continue until 10 years from the date of assessment has elapsed. After 10 years from the very first day that you owed the tax, the IRS can no longer collect that tax debt. While in CNC status and not expected to make a payment, IRS will expect the Taxpayer to file and pay future years on time, and make any future required estimated tax payments.
Bomar Law Firm is in Atlanta, Georgia. Contact us to schedule a free consultation to discuss your case with an Atlanta, Georgia, tax lawyer.