Leatherneck BookkeepingCurrently Not Collectible, Explained
If you can’t pay the IRS anything right now, you may have heard of “currently not collectible” or hardship status. Here’s what it means in plain words.
Don’t face the IRS alone. What you tell the IRS can affect your options, and once it’s on record it’s hard to undo. Call Kathleen first.
What it means
Currently not collectible (CNC) is a status the IRS can put your account in when your income only covers basic living costs. The IRS looks at your income, your expenses and what you own, and the IRS decides whether your account qualifies. Your balance doesn’t go away, interest keeps adding up, and the IRS can review your situation again later.
Who it can help
- People living on a fixed income, like Social Security
- People who lost a job or had a big drop in income
- People with serious medical or family hardships
Why call Kathleen first
- What you tell the IRS about your income and expenses can hurt your chances of lowering your debt.
- Kathleen knows the IRS formulas and which expenses the IRS allows and which it doesn’t.
- She negotiates, argues and fights for you with the IRS.
- If a payment plan or Offer in Compromise fits better, she’ll tell you. See also Can’t pay anything right now?
Call or text (208) 614-1965
Talk with Kathleen before you talk to the IRS. Free, private consultation.
Call (208) 614-1965Text (208) 614-1965Why people call me
I’m Kathleen. I’ve spent 25+ years in taxes, since 2001. Leatherneck Bookkeeping is Marine Corps family owned and based in Nampa, Idaho, and I help people in the Treasure Valley and across the country. I named it for my late husband, Steve, a CWO5 in the U.S. Marine Corps. He taught me to never leave anyone to face a hard thing alone, and that’s how I treat every person who calls me.
Questions
Does my balance go away?
No. The balance stays, and interest keeps adding up. Every case is different, and the IRS decides.
Can I just call the IRS myself?
You can, but what you tell the IRS about your income and expenses can hurt your chances of lowering your debt. Talk to Kathleen first.
Do I need an attorney?
Most people don't need an attorney. You may need one if your case involves fraud or is headed to court.
Call or text (208) 614-1965
Talk with Kathleen before you talk to the IRS. Free, private consultation.
Call (208) 614-1965Text (208) 614-1965Leatherneck Bookkeeping is not a law firm. Results depend on your facts and IRS rules, the IRS makes the final decision, and no outcome is guaranteed.