Daniel Cullinane CPA
25 Plaza 5 25th fl Jersey City NJ phone 732-516-1648 fax 732-516-9778
2500 Plaza 5 25th fl Jersey City NJ 07311 phone 732-516-1648 fax 732-516-9778
Copyright © Daniel Cullinane CPA.
When the IRS deems that collection procedures are not productive the account is placed in Currently Not Collectable. This is good for the taxpayer short term, as all collection activities will be stopped. The main reason for this are: inability to locate the taxpayer suit initiated to reduce tax claim, death of an individual, due to poor finances there is no way to collect. Collection efforts can resume any time until the 10 year statute of limitations expires.
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