cp501: IRS Collection Notices – What do they mean?
- 07/28/19 02:30 PM
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS and Florida Department of Revenue. Typically, problems with the IRS Collections Division starts with a series of notices. Each new notice gets more threatening than the last and start to come faster and faster. It’s highly unlikely that ignoring this correspondence is going to work out for any taxpayer in the end.
Each of the letters will have an identifying number in the right-hand corner. Here is a summary of what these various letters mean: CP501 – Balance Due Notice – The taxpayer’s priority here is to figure out if the IRS (0 comments)
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Jim Payne, CPA
CPA firm practicing in the area of IRS Collections