Monday, October 3, 2016

The Best IRS Help - Currently not Collectible - Flat Fee Tax Service


Currently Non Collectible, also known as "CNC," is an IRS status in which the IRS views a financially struggling taxpayer as having no ability to pay the IRS anything. Once Currently not Collectible status is obtained, the IRS immediately stops all collection action. 

Such collection action may include IRS TAX levy / IRS garnishment (wage and bank levies), against the person or business. The question then becomes, why choose to offer the IRS anything through an Offer in Compromise settlement when you need not pay the IRS anything under the currently non collectible status?





The benefits of "Currently non Collectible status" are as follow:


1. First, as mentioned earlier, all levy activity stops. 
2. Second, the IRS takes no action to collect against you while you maintain this status. 
3. Third, you can stay on non-collectible indefinitely.
4. Fourth, eventually the Statute of Limitations will run out and your income tax debt will go away.

The drawbacks of given Currently not Collectible are numerous.:

1. First, although the IRS will not collect from you while you are currently experiencing a financial hardship, if your situation improves the IRS will resume garnishments. 
2. Second, even though the IRS will not garnish or collect against you while on non-collectible (Currently not Collectible) status, you still owes the income tax debt. Your income tax debt does not go away. 
3. Third, while on currently non collectible, the IRS will take your tax refund each year and apply it towards the balance owed.So long as you are on CNC and owe the IRS a tax debt, you will never receive a refund.
4. Fourth, while you are in Currently not Collectible status, the IRS will file an IRS tax lien and this will harm your credit.

As you read above, there are serious considerations that need to be addressed. The best IRS help team at Flat Fee Tax Service, Inc. will go over your unique situation and get you, our client, the best results available.

The best IRS help team at Flat Fee Tax Service, Inc. oftentimes uses Currently not Collectible (CNC) as a strategic and temporary measure typically in conjunction with an Offer in Compromise. As an example, if our client qualifies to make an offer in compromise, our IRS Tax Attorneys will use the currently non collectible status as a tool to stop levies and garnishments. This will give you, our client, breathing room and it give us (the best IRS help team) enough time to submit for an Offer in Compromise without causing undue hardship on our clients. Also, attempting currently non collectible status is a fantastic pre-qualifying tool for us to use prior to submitting an offer in compromise to the IRS.

If the IRS has declared you to be Currently not Collectible and unable to pay the IRS for your income tax debt, then you are one step away to settling your tax debt.

Call the best IRS help team today for your free evaluation. Let us determine whether Currently non Collectible status is your best option or to stop a garnishment.

FLAT FEE TAX SERVICE, INC.

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