Aug 29th, 2018
When a taxpayer owes money to the IRS, there are collection alternatives available. In this two-part series, I will discuss the collection alternative called Currently Not Collectible. When a taxpayer experiences a financial hardship, that individual may qualify to have the account placed on hold until the debt expires.
In part 2, I speak about the second page of the collection information statement short form, Form 433-F, and the pros and cons of Currently Not Collectible status.