IRS Notice CP503: What It Is, What It Means, and How to Respond

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If you've received the CP503 Notice from the IRS in the mail, you might be wondering what it is and what to do about it. The CP503 Notice is the IRS's 2nd Notice of a Balance Due. Learn more about the CP503 Notice and what to do if you receive a CP503 Notice from the IRS in this video!
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Table of Contents:
0:00 IRS Notice CP503: "2nd Notice of a Balance Due"
1:13 Why Did the IRS Send You a Notice CP503?
2:57 CP503 Basic Information
3:20 Part 1: Billing Summary
4:20 Part 2: What the IRS Wants You To Do
6:55 Part 3: Payment Options
7:27 Part 4: What the IRS Will Do If You Don't Respond
9:07 Part 5: Penalty Information
11:01 Part 6: Interest Information
11:15 Part 7: Additional Information
11:32 What You Should Do If You Receive a CP503 Notice
#taxdebt #taxrelief #taxresolution

[@TinaMo4Sho]

Thanks

[@LoganAllec]

You’re welcome! Have a great weekend!

[@hughwhitledge8032]

Why do you deserve an abatement of penalties?
Be able to clearly articulate that to the Collections Officer.

[@jenjen9266]

I just received a cp503 notification for years 2009, 2010 ,2011 , and 2012
I’m wondering if this is a scam we have not received a notification before and these are over 10 years old
Wtf

[@LoganAllec]

Hi! I answered your question in this video: th-cam.com/video/26K4N0ddkxM/w-d-xo.html

[@NinaBeezey]

In 2021, we forgot to file 2 W2s and my husbands unemployment on our tax return bc they got sent to our old address. We forgot about it bc my husband only worked at those 2 temp jobs for a month and he was unemployed for 3 months. We got that letter, we sent a corrected amended return with the missing 2 W2s. We got sent the same letter 2 more times with the amount owe going up. Each time we resend the amended return, I go to the IRS website to check on amended return says it unavailable. Last time we sent it was in June 2023. I don't know what to do. We now owe 9,500.

[@larrylopez9614]

I got 3 years worth of back taxes with this CP503 Since 2019 with interest accuring that I never knew about.

[@LoganAllec]

Give us a call 866-8000-TAX 👍

[@donna9497]

Interesting. Received CP14 made payment in full and it cleared my bank account. A month later I received a CP503 for same amount plus some added interest etc. NOW WHAT?????

[@LoganAllec]

IRS computers frequently get mixed up. This probably isn’t the answer you’re looking for, but the answer is either 1) wait for them to clear it up themselves on their end (doesn’t always happen) or 2) give IRS ACS a call at 800-829-7650 to discuss your case.

[@donna9497]

@@LoganAllec Thanks