Currently Not Collectible Status
Currently not collectible status Currently not collectible (CNC) status is a temporary solution. A taxpayer who can’t afford to pay right now can be put in this status for 6 months to a year. Penalties and interest continue to accrue. In order to get put into this status, the IRS will require substantial financial information such as:
Bank statements on all bank accounts
Proof of payment of “necessary” living expenses
Information on all assets (what you own)
Information on liabilities (what you owe)
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