USTaxAid Services

If you get an IRS notice, your first impulse may be to panic. But before you panic, take a look at the number at the top of the letter. It will tell you what they really are after and what the next steps are likely to be.

Today, we’re talking about the CP-14 letter. (Look for CP-14 at the top of the letter).

This is your first bill for taxes due. It’s a nice, simple request for payment. The IRS feels that you still did not pay enough to cover the liability plus interest and penalties. This letter will go to great lengths to explain the calculations behind the interest and penalties. Usually, though, the letter doesn’t talk about the initial amount of extra tax due that has created this interest and penalty situation.

Don’t ignore the letter! Contact your CPA right away to find out the best way to respond to the letter.

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