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
Thanks Iryna. You are the best
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Professional knowledgeable top grade company. Strongly recommend them.
Liliy Kit December 1, 2021
Very professional! Recommend.
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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.
Gabriel Dantzler November 3, 2023
Thank you very much Iryna . You are a professional. My recommendations
Aliona Taranenka 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.
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If you are looking for a professional CPA to prepare your taxes, I highly recommend Tax Service Masters.
ZT Gallery Contemporary Art December 1, 2021
Very easy to work with and professional.
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This year we were forced to change the old accountant. Came here on a recommendation and we were pleased. Professionally, fast, easy, fair price, understandable. Definitely recommended.
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Iryna has helped me and my friends to solve difficulties with taxes promptly and professionally. Highly recommend!
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Service was amazing fast and easy, For sure I’m coming back next year.
Ivri Depaz December 1, 2021
This is the best company you can ask to do your taxes and any related challenges your facing with IRS ...very dependable honest and no sugar coating most importantly a... More Tax Reviews company that has a heart not only money making . I met Iryna by accident subcontracted by the company I thought would do for my best interest but they did not accomplish my goal . I would highly recommend Tax Service Masters specially Iryna Teixeira she is most dependable .
Evita Yubane December 1, 2022
Unlike other accountant, Iryna will never give up fighting for your tax case no matter what the issue was until it gets solved! Thanks Vera for recommending her. I highly... More Tax Reviews recommend her! She’s a saver.
Hatem December 1, 2021
Nice to work with!
David Chambers November 3, 2023
Outstanding Service! Irnya is the best! I will definitely use them again!
Filvis December 1, 2022
Не каждый день в жизни встречаешь компетентных, профессиональных и отзывчивых людей. Ирина — одна из них. Большое спасибо за ваш совет!!! Я ваш клиент!!! It's not every day in your... More Tax Reviews life that you meet competent, professional and sympathetic people. Irina is one of them. Thank you very much for your advice!!! I am your client!!!
Igor Blintsov August 1, 2023
Excellent service! Always works diligently and in the client’s best interests!
J Brensel November 3, 2023
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.