GoodDay Tax and Bookkeeping Solutions, LLC

The IRS’s version of “Do Not Disturb” is called Currently Not Collectible (CNC) 😅📵

And if you owe the IRS money, this is something worth knowing about 👀

But before we go any further, let me be super clear:

Getting CNC status does *not* make your tax bill magically disappear 🚩

And nope — it doesn’t stop penalties and interest from continuing to add up either 💸

So what *does* it actually do? ↓

If you qualify, you’ve essentially shown the IRS that paying your tax debt right now would create an undue financial hardship.

As a result, the IRS may temporarily pause most collection activity on your account 🙌

That can mean some breathing room if you’re going through a difficult financial season and need time for things to improve 📚

But there are still a few important things to know:

→ Your tax debt still exists
→ Penalties + interest can continue accruing
→ The IRS can still file a Notice of Federal Tax Lien 😬

And if CNC isn’t an option for you? Don’t panic. The IRS also has payment plan options that can help spread out what you owe over time ✔️

Tax debt can feel overwhelming, but ignoring it usually makes things worse. The sooner you make a plan, the more options you typically have 🙌

Mark your calendars and set reminders for these upcoming tax deadline.

Save this post and follow us for future tax reminders.