Got a Letter from the IRS? What is a CP 503?

Описание: ⚠️⚠️Do you owe back taxes to the IRS or State?⚠️⚠️

If you owe back taxes you probably get a lot of IRS notices in the mail. In this video I explain the CP500 series of IRS notices. The CP501 Notice of Balance Due, the CP503 Reminder of Balance Due, and the CP504 Final Reminder of Balance Due and Notice of Intent to Levy. In this video I explain what the notices mean and what you should do if you receive one.

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NOTE: Legacy Tax helps individuals and businesses with tax and accounting issues. Legacy Tax is not a law firm and does not offer legal services or legal advice. If you need legal services or legal advice please consult an attorney.

Tax Settlement, Tax Debt Forgiveness, and Fresh Start are terms, referring to the IRS offer and compromise (OIC) program. Not all taxpayers qualify for the OIC program. The IRS determines taxpayer qualifications. Legacy Tax makes no guarantee that any particular taxpayer will qualify for an offer in compromise or any other IRS resolution. Visit irs.gov for more on OIC qualifications.