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IRS Just Sent Me a Balance Due Notice (CP 14) – What Should I Do?

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IRS Just Sent Me a Balance Due Notice (CP 14) – What Should I Do?

IRS Just Sent Me a Balance Due Notice (CP 14) – What Should I Do?

The IRS goes through a series of notices in their collections system, from Cold (barely on the radar) to Smoldering Hot (requires immediate attention). Check out the links to learn more:

This notice is CP 14 Balance Due Notice.

CP 14 is the first notice in a series of collection notices as listed above.

What can I expect because of this notice?

CP 14 contains information on the amount you owe, payment options, the deadline for repayment, and a detailed description of the penalties and interest you are incurred.  It is important that you know it is within your right to dispute what the IRS is claiming. At times, their system can error and miscalculate your original tax return.

What can I expect next after this notice?

The next notice you will receive is the CP 501, First Reminder of Unpaid Taxes.  It is not predictable how soon you will receive the CP 501.

 

What are my options for a solution?

 

What is my first step?

If you received a letter or notice, a decision must be made. Do you feel confident to handle this situation on your own? If it is a simple issue and you already know the answer, call, or write them. If the issue is more complicated, you need to hire a Certified Tax Resolution Specialist. The IRS or State will take full advantage of your lack of knowledge and experience.

What is Your Next Step?

The next step is to determine if the notice was sent in error. Do you have an outstanding tax liability? Do you have unfiled or incomplete returns?

Is There a Time Limit?

Yes! Each letter or notice from the IRS or State will indicate a date that you MUST contact them by. If you need more time, call the number on the notice or letter, and request an extension. DO NOT ALLOW the time to expire without contacting them or hiring a representative to contact them on your behalf..

What You Don’t Want to Do!

What you don’t want to do is nothing. Your tax problems will only get worse if you ignore them. If you cannot pay, there are a number of potential solutions available to those who are otherwise in compliance. In compliance means having all tax returns filed and any balances paid or on a payment plan. If you have outstanding debts or unfiled returns, you need to get hire a Certified Tax Resolution Specialist.

Get Some Help

If you don’t know how to address the issue(s), have unfiled returns/unpaid balances or just don’t feel confident, let the experts at Legacy Tax & Resolution Services represent you. Work with our team of Certified Tax Resolution Specialists to resolve your issue(s) quickly. Best of all, you don’t have to talk to the IRS or State; we can speak on your behalf.

Stop the stress and resolve your problems Call 800-829-7483 TODAY

 

Download our Special Report “ I Just Received an IRS Notice, What Do I Need To Know?”

In it you will find next steps, dos and don’ts and information about your options

 

 

 

 

 

 

 

 

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Stop the stress and resolve your problems!

 

Call 800-829-7483 for a FREE Consultation

 

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