CP 501 - Reminder Notice, Balance Due

CP 501 notice, warning of the balance due is a simple letter, understand the simple. If you have a balance, the IRS will send this letter. It is the first evidence that will be sent to the taxpayer on money due on their account.

What should I write after receiving a 501 do?

Just as the notice itself is simple, the first step is simple: pay the money that you are guilty. The IRS tells you how much is a final payment, and it is your responsibility to send the money. Forget to use the envelope and include your payment with the lower part of the notice. This will ensure that your payment is in place does, and that your payment is applied to your account.

How long can I wait to react to?

You do not want to wait after receiving a CP-501 notice. Although it is a simple letter, it does not take a slight on the shoulder. It's up to you to either see job paid in full or to contact the IRS, what are other options available.

What happens if I do not pay in full?

Depending on your balance, you may not be able to pay in one sum. At this point you have to the IRS. You can quality for an installment agreement. Who in bad financial shape, should consider an offer in compromise.

If you are not with the CP 501 letter agreement for any reason, please contact the IRS and explain the mistakes that you see.

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Do you know the hotline numbers or need a website of your local tax authorities if you need information on filing or other concerns. Note that if you ignore the local tax offices to file claims for your profit, maybe they are forced to their homes or add to fines or even criminal prosecution subject. This is an obligation of all citizens of a country.