Currently Not Collectible Status
If a taxpayer does not qualify for an Offer In Compromise they may still save themselves thousands of dollars if they qualify for Currently Not Collectible status. Being placed in this status will essentially end all collection activity from the IRS on your existing tax debt. To be placed in Currently Not Collectible status, taxpayers need to prove to the IRS that necessary monthly living expenses exceed their monthly income.
Once a client is placed in Currently Not Collectible status, the IRS will not pursue any collection actions against the taxpayer barring significant changes in their financial situation before the end of the statutory collections period. This program requires massive amounts of forms and financial disclosures that are extremely difficult for taxpayers to complete on their own. A free consultation from one of our lawyers could save you from IRS collections completely.