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IRS Notice CP503- Second Reminder of Past Due Taxes

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IRS Notice CP503- Second Reminder of Past Due Taxes

IRS Notice CP 503-Second Reminder Of Past Due Taxes

IRS uses CP 503 as a second reminder to taxpayers of past due taxes. This is the second in a series of notices (CP501, CP503, CP504) each become more threatening in its language.  The last in the series is the CP 504- Notice of Intent To Levy.  Next is the Letter 1058- Final Notice of Intent To Levy

What is the First Step With A CP 503?

Your first step is to review prior notices and to determine if the balance due is correct.  Your next step is to determine whether you feel comfortable handling this on your own.  If the outstanding balance is correct, you will want to make arrangement to pay the balance by the due date on the notice. If you fail to pay by the balance due by the due date, you will be accessed additional penalties and interest.

When Should I Respond To A CP 503 Notice or Letter?

While there is no due date listed on a CP 503 notice, if able, you will want to pay balance as soon possible.

If I Am Unable or Not Capable of Paying IRS Taxes What Should I Do?

If you cannot pay your balance you may be able to apply for an installment agreement or  other settlement options.  If you are able, you will want to pay quickly before a Lien is file.  The lien provides  IRS a legally claim against all your assets.

Who Should or Can I Call To Discuss IRS Notice CP 503?

There will be a number listed on the CP 50 There will be a number listed on the CP 501 notice that can be used to get answered to your questions.  You can also call us and speak to one of our Certified Tax Resolution Specialists.

What If I Don’t Concur With the IRS Regarding the CP 503 Notice They Sent?

If you do not agree with the notice you will want to prepare a response listing the items of disagreement and provide supporting documentation to support your case.  Whether you decide to handle this on your own or seek representation will depend on the complexity of the case.

IRS Notice CP504- Third And Final Reminder Of Past Due Taxes

IRS Notice CP501- Reminder of Past Due Balance

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