IRS Notices - IRS Notice of Withholding

If you have received an IRS Notice of Withholding about your past due taxes, then you have a limited amount of time to resolve your tax situation. Any delays in resolving your tax problem can cause the problem to worsen. The IRS, subsequent to issuing an IRS Notice of Withholding, can legally place a lien on your home, seize your property or garnish your wages.

You have rights as a taxpayer. The IRS provides various programs to help you resolve your tax issues, but you must take action to seek a workable resolution with the IRS. Fortunately, the tax professionals at FSI Tax™ are experienced in obtaining tax resolutions for taxpayers so they can enjoy the peace of mind that comes with successful tax compliance.

Below is a list of common IRS Notices listed in the order they are commonly sent to taxpayers. Take a look at the information on the IRS Notice you received to learn more.

* IRS Notice CP-501: An IRS Notice CP-501 is a “reminder” that a tax debt is owed, and an IRS Notice CP-501 is the first step towards tax debt collection.

* IRS Notice CP-503: An IRS Notice CP-503 alerts the recipient that any IRS Notice CP-503 is “Important” and that “Immediate Action is Required” on behalf of the taxpayer.

* IRS Notice CP-504: An IRS Notice CP-504 is labeled “Urgent” to stress the urgency of the taxpayer’s situation and that the IRS “intends to levy on certain assets” not long after issuing an IRS Notice CP-504. The taxpayer is requested to “Please respond NOW!”

* IRS Notice CP-297 (a.k.a. IRS Notice CP-90): An IRS Notice CP-297 ( IRS Notice CP-90) is the “Final Notice of Intent to Levy” any money or property assets you have. The IRS Notice CP-297/ IRS Notice CP-90 is one of the last chances you have before levies and liens are implemented.

* IRS Notice CP-298 (a.k.a. IRS Notice CP-91): The IRS Notice CP-298 (or IRS Notice CP-91) is the “Final Notice before Levy on Social Security Benefits” that alerts the taxpayer their Social Security Benefits are being placed at risk because of an unpaid tax bill. Subsequent to the issuing of an IRS Notice CP-298 or IRS Notice CP-91, collection actions are taken.