Law Office Of Mary E. King, P.L. Attorney and Counsilor Of Law Because Life Should be Less Taxing ®
941-906-7585 Florida Bar Member
Sarasota County Bar Member

Currently Not Collectible

Currently Not Collectible or  hardship status a temporary solution to an IRS problem.

Currently Not Collectible, or what is sometimes called hardship status, is a temporary solution to an IRS problem. Generally it is used when someone is having a difficult time economically, for instance when they have lost their job or had their hours cut back. It can also be used when a statute of limitations is close to expiring or in conjunction with a bankruptcy.

Currently Not Collectible is a status where the IRS agrees that the taxpayer has no ability to pay their debts on a monthly basis. Interest and penalties will continue to accrue against the debt. However, the statute of limitations will also continue to run as well which means that you will be closer to when the IRS can no longer collect the debt.

 As a local Sarasota Tax Attorney concentrating in IRS Problem Resolution, I can help you decide if Hardship status  is the right solution to your IRS tax debt problem. Please call the Law Office of Mary E King for your free consultation at 941.906.7585 or email Sarasota Tax attorney Mary King Esq. for your free IRS Tax help consultation.


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