Currently Not Collectible Status Explained | How to Get In CNC Status

[@LoganAllec]

➡️ Book your FREE tax relief consultation TODAY at choicetaxrelief.com/free-consultation/ or call 866-8000-TAX NOW!

[@nefrateridavis2348]

Very good and knowledgeable video. You're telling people things the IRS doesn't want us to know....Kudos to you!! And thank you!!

[@theinquisitor18]

Hi, Logan! I guess I'm the enemy, 😉. I'm an up-and-coming IRS SBSE, ACS, employee. I've been using your videos to supplement my training, not to replace it, but to give me extra things to study at home before I start. I hope to be the best ACS employee I can be. Thank you for these. 😊

[@admperry1]

Thank you, Logan 💯👏🙂

[@callmeNeno]

Got a CP2000 notification driving nuts for the year 2020 this year. I had no idea

[@cyhthiasaylor5040]

Hi, Alex Logan, Logan Alex, 🙃 do you have any news on Stimulus for SSDI? Thank you

[@pubg.930]

We need review for opinion outpost

[@teresitavidal4231]

ahí, Logan I am in not collectible status since 2016, but I have a lien in my house, after the 10 years they removed the lien?

[@350BMW09]

We have a Section 503 “CNC not due to hardship” status on our tax transcript. Is it still possible to buy a home while in CNC status?

[@DamianoOkaie]

Lagan, once more, how can I find informations about custodian of my IRA account. IRS or my banker?

[@allywilkeforsenate]

OIC is rare.The requirements are very stringent.The IRS has a calculator if you qualify on their website.

[@LoganAllec]

It's true that most taxpayers will not qualify for an offer in compromise. That said, the IRS's OIC calculator on its website really oversimplifies the issue of whether one qualifies or not.

[@midnite1235]

@@LoganAllec Hi Logan, I have an Aunt who owes over $100k to IRS, due to things like 1099s from unpaid credit cards. She was assessed incorrectly because she was insolvent. She is taking steps to correct that situation but still will owe $$$. She has not worked for years , has less than $6,000 in assets and does not owe any other taxes for any other years. That is her whole story, no details left out. Just your opinion, no holding you to it! Will she qualify for an OIC? THANK YOU!!!

[@robwin0072]

Hello Logan, I have a question regarding the CNC. If I have a tax liability from 2014 that was never put into CNC, and the tax was assessed in the summer of 2015; if I apply for a CNC, now, in 2023, does the CSED start in 2023 or back when the tax was assessed in 2015? This would mean that I would have two years before the drop-off date. Am I not thinking about this correctly? Also, once the CSED has passed? How does one have it removed from their tax account?

[@LoganAllec]

The collection statute started back when the tax was assessed in 2015, and yes, absent any tolling events, you have two years until the drop-off date. The tax will automatically be written off on your account once the CSED has passed.

[@midnite1235]

Does unemployment Guarantee CNC If no assets or income?

[@tgs6027]

how do you find out your status with the IRS???

[@jackieoneal4806]

Good question

[@kevinp7519]

Will it the cnc cover state taxes as well

[@LoganAllec]

Hi Kevin. Some states have their own version of CNC, and they vary in what they call it and how to qualify. For example, California has what it calls “hardship” that is functionally similar to CNC; however, in my experience states are much more aggressive in removing taxpayers from hardship status than the IRS is with respect to removing taxpayers from CNC.

[@Chris-fd9er]

Do TPs have to recertify as CNC every year?

[@LoganAllec]

Not necessarily. Just got off a prac call with a prospect. Placed in CNC back in 2020. Crickets from IRS since then apart from annual notice. However she will be collecting SS soon so we will submit OIC. We have other clients who are systemically removed the next year. It all depends.

[@midnite1235]

Hi Logan If you get put into CNC, Can you still apply for an OIC At a later date? Thank you!!!

[@LoganAllec]

Yes, absolutely! kzbin.info/www/bejne/f5uZY52wrc2lgas

[@midnite1235]

Awesome! Big Thanx!!!

[@jackieoneal4806]

Wow

[@williammorris398]

Your most engaged 💍fan