IRS Currently Not Collectible - Chicago IRS Tax Help

Steven Anderson Leahy

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Tax Lawyer - Chicago, IL

Contributor Level 17

Posted almost 2 years ago. 0 helpful votes


Chicago, Should You Consider IRS Currently Not Collectible Status as a Solution to Your IRS Tax Problem?

In a previous video, we gave an overview of the different options you have for dealing with your tax problem with the IRS. Here we’ll talk more about the first option: Being declared Non-Collectible Status.

If you’re declared “non-collectible," the IRS will immediately stop all collections against you. They’ll get their hands out of your bank account and off of your paycheck. Now, this sounds great and can be an important part of your IRS strategy…

However, being declared non-collectible isn’t a gimme…not by a long shot.

The IRS will only give you a certain amount of time to get your finances in order, 18 months or 2 years at the most. After that, they’ll come after you again with every trick up their sleeve.

When this happens, you will owe more money than before, because the entire time you haven’t been paying your bill, it’s been accumulating interest.

The IRS has lots of resources and very strict guidelines, and to qualify as non-collectible, you must meet them all.

But this is not a step you should take on your own. If you call and ask to be considered non-collectible, you may not qualify. And if you don’t, then the IRS may decide that you can make payments, regardless of your family’s budget. And they will put you on a payment plan, whether you like it or not…whether you can afford it or not.

If you try to be declared as non-collectible it should always be done carefully and as part of a bigger strategy.

To discover more about IRS Currently Not Collectible Status and other strategies on how you can break free from the IRS and reclaim your life, call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now!

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