Letters from the IRS

The IRS was empowered by Congress to collect taxes owed The Federal Government.  They are the largest and strongest collection agency in the United States.

The IRS has a standard five stage collection process:

• CP14: This the first letter you will receive from the IRS. This letter informs you of the amount you owe, along with any penalties and interest.
• CP501: This second letter reminds you of the balance due.
• CP503: This letter is sent if the two previous letters were ignored and the debt remains unpaid.
• CP504: This letter called, “Notice of Intent to Levy”, states that if the amount due isn’t paid immediately, the IRS will seize bank accounts and property and apply it to the amount owed. You must not ignore this letter
• 1058: Receiving this letter, titled “Final Notice of Intent to Levy and Notice of Your Right to a Hearing”, indicates that the IRS will seize your bank accounts and other assets and place a lien on your home.

If you have received any of these letters from the IRS, let our group of Tax Professionals help you avoid further action. Our Tax Professionals understand the stress associated with your tax debt issues and can help you!