How to Get a Break with Currently Not Collectible (CNC) Status

How to Get a Break with Currently Not Collectible (CNC) Status

Are you drowning in tax debt with no clear way out? The IRS offers a lifeline called Currently Not Collectible (CNC) status. This temporary reprieve can give you breathing room to get your finances back on track.

What is CNC Status, Anyway?

CNC status is like a timeout for the IRS. When they grant you this status, they acknowledge that you're facing financial hardship and can't pay your tax debt right now. This doesn't make your debt disappear, but it does give you some space to focus on getting back on your feet.

What's in it for you? Here are the benefits:

• Temporary Reprieve: The IRS will back off for a while, and you won't have to worry about wage levies or asset seizures.

• Reduced Financial Stress: You'll have more time to prioritize your essential expenses and get your finances stable.

• Protection from IRS Collection Actions: The IRS won't take further collection actions while your account is in CNC status.

How to Get CNC Status

You'll need to show the IRS that you're really struggling. Here's what you need to do:

• Fill Out Form 433-F: This form is like a financial snapshot. You'll need to provide details about your income, expenses, and assets.

• Gather Supporting Docs: You'll need to attach proof of your income, expenses, and assets to your application.

• Wait for the IRS to Review: The IRS will take a close look at your application and decide whether you qualify for CNC status.

How Milestone Tax Solutions Can Help

Let's face it: dealing with the IRS can be overwhelming. That's where we come in. Our experienced tax pros can:

• Guide You Through the Application Process: We'll help you fill out Form 433-F and gather all the necessary documents.

• Represent You Before the IRS: We'll communicate with the IRS on your behalf and advocate for your interests.

• Help You Explore Your Options: We'll explain the pros and cons of CNC status and help you figure out if it's the right move for you.

Don't let tax debt weigh you down. Contact Milestone Tax Solutions today to schedule a consultation and take the first step towards getting CNC status and finding financial relief.