How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28082
Experience:  Taxes, Immigration, Labor Relations
870116
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

MY TAX DEBT HAS BEEN CHARGED AS UNCOLLECTABLE, IS IT STILL

Customer Question

MY TAX DEBT HAS BEEN CHARGED AS UNCOLLECTABLE, IS IT STILL AND IF SO CAN I NOW GET THE DEBT OFF MY CREDIT RECORD AND BEGIN TO EARN REAL MONEY AGAIN?
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

Currently Not Collectible (CNC) status doesn't eliminate the debt...
So it will not be removed from your credit report.
Sorry if you expected differently.
That status means - the IRS suspends all collection and enforcement activities and will NOT levy on your income and assets. For instance - if the IRS already levied on your wages - the IRS would release that levy.
But the IRS still will keep tax liens in place and they will be on your credit report for long time.

    Expert:  Lev replied 1 year ago.

    I appreciate if take a moment to rate the answer.

    Experts are ONLY credited when answers are rated positively.

    If you still have any doubts, need clarification - please be sure to ask.
    I am here to help you will all tax related issues.