Category: Currently Not Collectible
Currently not collectible status pauses IRS collection when you cannot afford to pay. Learn how to qualify, what it does and does not do, and how long it lasts.
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Do Assets Disqualify You from Currently Not Collectible Status?
Let’s say you have some assets, but you are not rich. What you have is a smattering of things that are, well, honestly, not worth that much. Maybe it is a house with a mortgage that needs a lot of repairs. Maybe it is a small retirement account that was left over from a prior…