If you received a letter from the IRS that has the following code "CP14" at the top of the page, the IRS is claiming that you owe them money on unpaid taxes.
The CP14 notice spells out how much you owe the IRS; what you should next; and by when to avoid collection activity.
What do you do next if you cannot afford to pay the tax bill?
First, do not ignore the collection notice.
Often, clients come into my office with unopened letters from the IRS.
Tax problems do not go away by themselves.
If you ignore the collection notice, interest and penalties continue to add to the tax bill.
Even worse, ignoring the collection notice may result in the IRS pursuing a wage garnishment or bank levy against you.
Second, you need to determine which tax resolutions options you qualify.
Specifically, you may qualify for a reduction of your tax liability through an Offer in Compromise, a properly structured partial pay payment plan, and perhaps a reduction or elimination of your penalties.
Your tax resolution option depends upon your financial circumstances and the tax law.
The Tax Problem Law Center can help you put your tax problems behind you if you take the first step
A tax lawyer can determine which option works best for you and talk to the IRS and/or the state on your behalf.
It can be nerve racking to receive an IRS CP 14 notice or any other IRS collection notice for that matter.
However, remember that doing nothing solves nothing.