CNC Status in lamest terms, is a tax deferment option to taxpayers that can prove financial hardship.
CNC Status can change if your financial situation changes.
CNC Status can change when the debt expires (debt expiration is a good thing).
Can Tax Service Masters Help you Seek CNC Status with the IRS?
Yes, it’s a service offered. Clients we represent, that wish to seek CNC will be given a financial disclosure form either in paper or online (client preference). Any documentation needed will be submitted to the IRS on your behalf and a decision will be made by the IRS.
CNC Questions?
What Happens If I am Declined CNC Status?
There are other viable options besides CNC offered to our clients seeking tax resolution. An Installment Agreement or Offer In Compromise are alternate tax resolution services we offer.
Every year, millions of taxpayers receive returns, the other millions file a return and owe taxes to the IRS. Here’s a ballpark breakdown: Roughly 30 million taxpayers owe taxes verse receiving returns, of those 30 million about 5 million taxpayers can’t pay what’s owed that year. Of that 5 million, 3 million setup what’s called an IA (Installment Agreement) – but what about the other 2 million? The other 2 million (give or take) will seek what the IRS refer to as: Currently not collectible status (CNC). CNC status allows taxpayers in financial hardship to put-off paying their tax bill until / or if their situation improves, or until the tax debt expires.
When Does Tax Debt Expire?
The statute of limitations states 10 years from the time the tax debt was filed. For example, If the IRS Claims you owe $18,000 for the tax year 2013, and you filed on time in 2014 then your tax debt would expire 2024. If you filed late for 2013.. say 2015 then your tax debt for 2013 would expire 2025.
Why Does Tax Debt Expiration Matter?
Tax debt expiration frees you of needing to extend CNC Status, and frees you of a debt that you cannot afford to pay.
A Few Ways to Avoid Needing CNC Status in the 1st Place
Filing on time is a big deal. Did you know the IRS can file on your behalf if you don’t? Also, filing before the crooks beats them to your return (if you’re owed a refund on you return). Lastly, sometimes tax software for the masses works great.. like intuit, and HR block. However, the more you start earning and evolving financially the more you may need professional tax representation.
Tax Service Reviews
Service was amazing fast and easy, For sure I’m coming back next year.
Ivri Depaz December 1, 2021
Nice to work with!
David Chambers November 3, 2023
Very knowledgeable, professional and quick
Anjelika Hrubar December 1, 2021
Tax Service Masters by far exceeds any expectations and good experiences I have ever had with personal and business taxes. The minute I walked in, I was amazed by the... More Tax Reviews the high level of professionalism which Iryna displayed. I was able to discuss all of my taxes both business and personal concerns. I got sound expert advice, and my taxes were filed quickly. Well worth the reasonable price they charged me. Save yourself any future tax headaches, use this place, it rocks!
Michael Lara December 1, 2022
Great professional! Always does our taxes quick and very good. Definitely recommend to everyone!
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Thank you very much Iryna . You are a professional. My recommendations
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Service was super fast and very professional. I would highly recommend Iryna for your accounting needs.
Alex Mak December 1, 2021
Amazing experience! Everything went smoothly and Iryna was there to promptly answer any questions. She was very attentive and personable during my interactions. Certainly makes her the person I will... More Tax Reviews be working with here for the foreseeable future.
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Fast and reliable
Anatolii Oprea December 1, 2021
Excellent customer service, helpful tips and advice!! Will use them again for sure!
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Iryna is just amazing! Not only is she incredibly personable but very knowledge and overall easy to work with. I have only ever had good experiences and have greatly appreciated... More Tax Reviews her assistance!
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Helpful, friendly annual tax prep and bookkeeping. She has helped me save money on taxes as a business owner!!! Thank you
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My accountant of many years really put me in a bind, she had me three years behind on my taxes. I found the Tax Service Masters, not only was Mr.... More Tax Reviews Joe and Iryna extremely helpful and attentive , but Iryna took her time to go back and re-file all three years of my taxes, And was able to get everything worked out properly! Also please note, I was receiving letters from the IRS stating that I owe them a crazy amount of money, but Iryna took it into her hands and was able to actually have them write me an apology letter! I will refer all of my friends and family to this business. Thank you Iryna and Mr. Joe! See you next year!
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We know Irina around 3 years. She is professional and good person) We like her service in accounting and tax documentation.
Нина Худабердиева December 1, 2021
Very professional! Recommend.
Michael Halprin November 1, 2023
Thanks Iryna. You are the best
anastasia asipchuk December 1, 2022
This was my first time coming to this place. Never heard of them before, but I was very impressed. Joseph and Iryna were very knowledgeable, respectful, and professional. This is... More Tax Reviews the first place that has ever sent me an encrypted email so that way my information stayed protected. I loved that! Very quick service. They take the time to explain the details. I even had a question after hours about my taxes and Joseph responded immediately! Please spread the word about this place. They provided EXCELLENT service. I will be coming here again and referring others to this business. Thank you both for everything.
J E March 1, 2023
Работать с отличным профессионалом это большая удача. Ирина все выполняет качественно, внимательно и ответственно. Она готовит мои налоговые декларации на протяжении многих лет, она решала вопросы и для бизнеса, и... More Tax Reviews для частного характера, стоимость услуг очень адекватная и никогда не завышается. Рекомендую ее как высокопрофессионального налогового специалиста. Work with a great professional is a great success. Irina does everything efficiently, carefully and responsibly. she has been preparing my tax returns for many years, she has dealt with both business and private matters.
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Filvis December 1, 2022
If you are looking for a professional CPA to prepare your taxes, I highly recommend Tax Service Masters.
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Tax Service Masters assists individuals and businesses dealing with tax discrepancies, tax balances, and tax problems of any kind at both the Federal and State level.
Our licensed tax professionals serve residents in all 50 U.S. States as well as foreign residents and nonresident aliens with delinquent taxes, tax penalties, tax liens, bank levies, wage garnishments, payroll taxes, back taxes, tax amendments and more.