Por Bárbara Pérsico
En esta noticia
The CP14 Notice is, according to official data, one of the most common notices sent by the Internal Revenue Service (IRS) to notify taxpayers about a fact they should not ignore if they want to avoid penalties: they owe tax money.
Once this communication is issued, the tax agency provides a set period to pay, which if not respected can lead to collection actions, which can worsen as time passes and the situation is not resolved.
IRS CP14 Notice: when it is sent and how much time there is to act
IRS specifies that this notice is sent when it detects that a taxpayer has a debt with the agency of USD 5 or more and that it is not due to a mathematical error in their tax return.
The notice includes useful details such as the amount to pay, interest, penalties and the maximum time to act which is 21 days.
When the obligation is not settled within the set period, IRS can take actions such as:
- Additional notices
- Penalties
- Interest
- In serious situations, the issuance of a Federal Tax Lien
What taxpayers should do within the set period
Those who can settle the obligation should do so within the deadline set in the notice through any of the IRS payment methods, which can be found at this link.
If the total obligation cannot be settled, the recommended course is to review the different installment payment plan options and always stay in contact with the tax agency to show interest in settling the outstanding balance.
If you believe the notice is wrong and that the obligation does not actually exist, you should call the number shown in the upper right corner to report it. Having documentation that can prove the error is essential in this type of communication.