FOLSOM, Calif., Aug. 27, 2020 /PRNewswire/ -- TaxAudit, the largest tax representation service in the country for tax debt relief and audits, today issued guidance and tips for taxpayers who recently received a CP14 Notice from the IRS. A CP14 Notice is a computer-generated letter or bill issued from the IRS to inform a taxpayer they owe money on unpaid taxes. The national health crisis has severely impacted the IRS, which has led to over 20 million backlogged notices and 11 million unopened taxpayer letters which likely include payment. As a result, taxpayers are being sent notices regarding past due payments despite some having already paid which could cause stress on taxpayers who fear falling into tax debt.
"Any notice from the IRS can cause stress on taxpayers, and we are seeing hundreds of TaxAudit members who have received a CP14 Notice even though they've already paid their tax bill. Although the IRS has recognized that these notices have been sent out automatically, and some in error, the burden falls on the taxpayer to rectify the situation," said Arnold van Dyk, Esq., TaxAudit's Director of Tax Services. "It's never a good idea to ignore a notice from the IRS, but given their current mail backlog, it may make sense to wait for the situation to resolve itself if you sent a timely payment by mail. At TaxAudit, we are working around the clock with our members and the IRS to ensure that taxpayers never pay more than they owe and help them avoid falling into tax debt."
TaxAudit's tips include:
- Don't ignore the IRS. Taxpayers should carefully review the CP14 Notice and determine if the amount shown on the bill is correct.
- If you owed taxes and paid by mail, determine if the check has cleared. You should carefully review your bank account to determine if the IRS has processed your payment.
- If your check hasn't cleared, it's possible that the IRS has not yet cashed your check. You should wait for the IRS to catch up with processing their mail backlog and payments. Do not cancel the check and be sure to maintain the funds in your account to cover the amount.
- If the check has cleared, you may be able to resolve the matter by contacting the IRS directly though you may need to give the IRS time to process the payment.
- If you owed taxes and have not paid, you should submit your payment to the IRS by the due date on the notice or as soon as possible.
- There are options available if you do not have the financial resources to pay. Taxpayers can set up a payment plan or installment agreement or apply for an Offer in Compromise to determine if the IRS will settle for less than the amount owed. Taxpayers may be able to delay making payments if a taxpayer can show they are unable to pay due to financial hardship.
With over 12 million members, TaxAudit helps to alleviate the tax burden taxpayers face by offering Tax Debt Relief Assistance and tax audit representation. The company works with the taxpayer from the very first phone consultation and assessment through to the best possible resolution.
Taxpayers who need help with the CP14 Notice or are unsure of their current tax situation can contact TaxAudit for assistance and be connected with a knowledgeable tax representative to help with their unique tax situation.
Please note: This is only a short list of tips for taxpayers who can't pay their taxes to avoid falling into tax debt. Please spend time learning about the rules at IRS.gov so you are knowledgeable about qualifying deductions, exemptions, and more that may help to reduce your tax burden.
TaxAudit is the largest tax representation service in the country for tax paying individuals and small businesses. With over 12 million members, TaxAudit helps to alleviate the tax burden taxpayers face by offering Tax Debt Relief Assistance and tax audit representation.
Members receive expert tax representation and relief from the nightmare of tax debt or being audited - at a price point any taxpayer can afford. TaxAudit works with the taxpayer from the very first phone consultation and assessment through to the best possible resolution.
TaxAudit is headquartered in Folsom, CA, but provides representation services wherever the taxpayer is located.