Dealing with the IRS can prove to be a very serious and time intensive ordeal. When looking for assistance, choose someone local, who is experienced, and can meet with you personally to create a plan for success.

So You Owe the IRS. What Now?

The IRS will most likely let you know, in increasingly harsher terms, when they want your money, They will likely send you letters, likely in the following order:

CP14: Balance Due
CP501: Reminder, We Show You Still Owe
CP503: Important — Immediate Action Required
CP504: Urgent Notice — We Intend To Levy on Certain Assets, Please Respond Now
CP90, CP 297: Final Notice of Intent to Levy and Notice of Your Right To a Hearing

Figure that each letter will be about a couple of months apart.

If you get to the last one (CP90, CP297), stop procrastinating and do something. This one means the IRS is taking steps to go after your assets - to levy your bank account, to garnish your paycheck, to do something. Unless you finished those night tax classes, passed an exam and worked in IRS representation for a while, please call a professional. Read more—

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