Tax Law Center
Currently Not Collectable
Currently Not Collectible occurs when the IRS agrees you are unable to repay the debt and if you attempted to do so, it would create an economic hardship on you and your family.
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The IRS Process
If you owe taxes and the IRS determines you are unable to pay right now, the IRS may put your collection account on hold through what is referred to as Currently Not Collectible or Hardship Deferral.
The IRS only has a certain amount of time to collect taxes owed and if a taxpayer can demonstrate continued hardship and remain on Currently Not Collectible status, the Taxes owed, coupled with the Penalties and Interest may fall off if the collection statute expires.