Letters from the IRS can be stressful, but not every notice is demanding you to "Pay Now" - and not every notice is full of confusing language.
CP14: YOU OWE THE IRS MONEY ON UNPAID TAXES
The initial demand letter, notifies taxpayer that there is a balance due within 21 days. If the balance owed is more than $100k, the balance is due within 10 days. This is the best time to resolve the issue, if financially possible.
THE 500 SERIES IRS NOTICES
The 500 series IRS notices are sent once the IRS has decided that its time to push for collections. The first one you will receive is the CP501 letter, which goes over penalties, payment options, and also included the same 21 (or 10) day due-date.
LETTER 1058
This is the last letter you want to receive from the IRS. If you have received the CP90, or 1058 letter, then contact a professional immediately as this letter contains the “Final Notice of Intent to Levy” text and the IRS can seize your property.
FIND OUT THE REST & WHAT TO DO ONCE YOU'VE RECEIVED A LETTER FROM THE IRS!
Click or swipe below to find out the rest, as well as a way to handle each letter. Don't panic or let these letters stress you out, there are options available to help you!