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

  • Pay stubs

  • Proof of payment of “necessary” living expenses

  • Information on all assets (what you own)

  • Information on liabilities (what you owe)

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