If You Owe the IRS, but Can’t Pay: Currently Not Collectible [VIDEO]

July 1, 2015

Maybe you owe the IRS money, but because of your current financial situation, you can’t pay it back. If the IRS agrees with you, they can place your account in Currently Not Collectible (CNC) status. If the IRS determines that there is no ability to collect taxes from a delinquent taxpayer, it may place certain cases in CNC status.

This new video outlines what you need to know about Currently Not Collectible status:
•    What it means
•    How to determine if you qualify
•    Possible pitfalls


Read more about Currently Not Collectible and other payment options if you can’t pay your taxes.