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IRS Collection Notices: What Do They Mean?
IRS Collection Notices: What Do They Mean?
 
My firm focuses on taxpayers in Portland, Maine with IRS tax problems. I frequently receive calls from panicked taxpayers regarding IRS collection notices they received in the mail. The person on the phone is deeply concerned, afraid of what the IRS may do. All of which plays right into the IRS’ hands. Fear is IRS' best weapon – it motivates the person to pay his or her taxes, even if it isn’t always in the taxpayer’s best interests.
 
These IRS collection notices serve two purposes: (1) inform taxpayers of their rights and (2) to demand payment. The first and subsequent notices come regularly, often 4-5 weeks apart, with each subsequent notice promising more aggressive action by the IRS to collect the tax debt.
 
Here is the normal flow of IRS collection notices:
 
1. CP 14 Notice                 Balance Due
 
2. CP 501 Notice               Reminder, We Show You Still Owe
 
3. CP 503 Notice               Important – Immediate Action Required
 
4. CP 504 Notice              Urgent Notice – We Intend to Levy on Certain Assets, Please Respond Now
 
5. CP 90/CP 297 Notice    Final Notice of Intent to Levy and Notice of Your Right to a Hearing
 
NOTE: If you click on the notices ... more

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