I represent taxpayers in St. Louis and the rest of the state of Missouri who have tax issues. Recently the IRS has been in the news regarding an increase in there budget request that has been granted. Addtional revenue officers and revenue agents have been hired and as a result an increase in collection activity.
A number of taxpayers have contacted me recently about the collection notices received and what exactly is the IRS's intention ith these letters.
At this point a tax has been assessed and the taxpayer has been sent a billing notice for a balance due and has neglected it.
That is a big mistake! Here is what the following notices mean to you.
CP 501: You have a balance due money you owe IRS on one of your tax accounts.
CP 503. IRS hasn't heard from you. There is still an unpaid balance on one of your tax accounts.
CP 504: IRS intent to levy. There is an upaid amount due on your account. If the balance due is not paid immedidiatly, the IRS will size your assets in an attempt to pay the amount due.
After these notices have been sent anther notice will arrive: "Notice of intent to Levy" from the date on the letter a levy action may begin .
If you or someone else you know may be getting these letters or have some other federal or state issue, please feel free to contact me at either (636) 397-2759 or by email at firstname.lastname@example.org.
Steve Shapiro, EA
Arch Tax Resolution
620 S. Benton St.
St. Charles, MO 63301