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!

[@JoanneFranco-i5u]

Thanks for explaining the whole IRS system has helped me so much with your videos. I am in a hardship program and have five more years to the statue limitation runs out. Keep doing these videos. They are so helpful.

[@LoganAllec]

I'm glad they're helpful! Thanks for watching!

[@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!!

[@JoanneFranco-i5u]

OMG this video put me so much at ease with my tax issue. I am currently in an installment agreement which I can afford at this moment and hope to stay there until the statue runs out. Thank you.

[@LoganAllec]

Sounds good! And yes, if there is debt remaining at the CSED (when the collections statute runs out), it will just drop off! Sounds like you're in a PPIA if you expect this to be the case.

[@ShellyBomb]

🤔 ~ Does a tax lien automatically drop off on a piece of property once the ten year time period rolls around; which includes accounting for the Assessment Date of the income taxes owed? Or does it remain attached to the property forever or until it's sold? Thank you in advance! 😉

[@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?

[@admperry1]

Thank you, Logan 💯👏🙂

[@GisellesCurls]

Thank You!!!

[@LoganAllec]

You're welcome!

[@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. 😊

[@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.

[@GisellesCurls]

Excellent guidance!!!! Does a CNC qualify for Lien removal, or would we have to wait until the statute of limitation period?

[@LoganAllec]

Hi Giselle. Unfortunately, a CNC will not result in the IRS withdrawing a notice of federal tax lien. I shared more thoughts with you in this video: kzbin.info/www/bejne/fJ2ci6eEpN6toJo

[@carlosserrano3331]

Thank you

[@LoganAllec]

You’re welcome.

[@cyhthiasaylor5040]

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

[@RichardLejeune-j3u]

why can't I find this policy statement 5-71??

[@midnite1235]

Does unemployment Guarantee CNC If no assets or income?

[@DamianoOkaie]

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

[@Mister75199]

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.

[@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!!!

[@semprefidelis76]

If you own a property (primary residence) is it ok to shoot ask or try to qualify for CNC status? If IRS realizes that you can`t pay, wouldn`t they simply put a lien on the house?

[@LoganAllec]

Good questions. I shared some thoughts in this video: choicetaxrelief.com/tax-relief/currently-not-collectible-status/

[@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.

[@tgs6027]

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

[@jackieoneal4806]

Good question

[@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?

[@shericontrary2535]

If I'm self employed can I use this? I cannot afford to pay all my self employment taxes. I will need to use my retirement savings to pay my FICA taxes. Everything is so expensive I have not been able to save much money

[@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!!!

[@pubg.930]

We need review for opinion outpost

[@williammorris398]

Your most engaged 💍fan

[@callmeNeno]

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

[@jackieoneal4806]

Wow

[@abcki-bk8me]

m.kzbin.info/www/bejne/qnfUo32ZqqeJlac&pp=ygULRm9ybWVyIGlycyA%3D

[@LoganAllec]

IRS will destroy these arguments in court