Glossary

CP71C Notice

The CP71C notice is an annual reminder sent by the IRS to taxpayers with an unpaid balance on their account. This notice outlines the total amount owed, including any accrued penalties and interest, and encourages taxpayers to take action to resolve the balance.

Key points in CP71C:

The notice specifies the total balance due and details how penalties and interest have accumulated since the last notice.
It provides options for resolving the debt, such as paying in full, entering into an Installment Agreement, or negotiating payment terms.
Ignoring this notice could result in additional enforcement actions, including liens or levies.

Taxpayers receiving CP71C should act promptly to address their unpaid balance and avoid further penalties.

Recommendation

CP504 Notice – Notice of Intent to Levy

IRS CP504 is a Notice of Intent to Levy, meaning the IRS plans to seize your assets if your unpaid taxes are not resolved.

Tax Levy

A tax levy allows the IRS to seize a taxpayer’s assets, including wages and bank accounts, to satisfy unpaid tax debt.

Letter 11: Final Notice of Intent to Levy and Notice of Your Right to a Hearing

IRS Letter 11 serves as a final warning of levy actions on assets and offers taxpayers a right to a hearing to dispute or negotiate the debt.

CP14 Notice: Balance Due Notification

The IRS CP14 Notice informs taxpayers that they have a balance due and provides instructions for payment or dispute.

CP88 Notice: Refund Frozen Due to Unfiled Returns

The IRS CP88 Notice notifies taxpayers that their refund has been frozen due to unfiled tax returns from previous years, and provides instructions for resolution.

Letter 4903: Request for Employment Tax Payment

IRS Letter 4903 is sent to employers with unpaid employment tax, requesting prompt payment to avoid additional charges and potential enforcement actions.

Tax Transcript Request

A tax transcript request is a formal request made to the IRS to obtain a summary of a taxpayer’s return or account, often used for income verification or loan applications.

Partial Payment Installment Agreement (PPIA)

A Partial Payment Installment Agreement (PPIA) allows taxpayers to make reduced monthly payments on their IRS tax debt, often settling for less than the full balance.

CP22A Notice

The CP22A notice is sent when the IRS makes changes to a taxpayer’s return, resulting in a balance due.

CP503D Notice: Demand for Immediate Payment of Business Tax Debt

IRS CP503D Notice requires immediate payment of unpaid business taxes, warning of enforcement actions for non-payment.