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218 IRS Most Popular Tax Notices and Letter IDs

218 IRS Most Popular Tax Notices and Letter IDs

It tough enough getting an IRS or state tax notice. But, understanding the notice can take phone calls and discussions with your tax preparer. Is there something missing from my return? Why was there an additional tax liability? Why did the return not match the information that the IRS had on file? Not every question; but, these are just a few of the questions that taxpayers have for their tax preparers? When it comes to IRS letters, every IRS letter has a Letter ID that normally begins with CP. From the letters, the IRS will inform taxpayers what changes were made and why there may be an additional tax liability in addition to the tax year and the due date for the information to be received or when a tax payment is due. CP501 / CP502 IRS sends CP501 and CP502 to let taxpayers know they have a past due obligation. CP71C IRS sends CP71C to let you know that you have overlooked a tax debt for several years. CP503 IRS sends CP503 to inform the taxpayer that a tax payment is due in full w