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The team at Portentrade can help you understand your options and determine the next steps.
Receiving an IRS notice or letter can feel overwhelming, especially if you’re unsure what it means or what to do next.
The IRS sends notices for many reasons, including balances due, missing information, audits, or collection actions.
Below you’ll find explanations of some of the most common IRS notices taxpayers receive.
If you’ve received an IRS letter and need help understanding your options, Portentrade is here to help.
⚠️ Important Note
IRS notices vary by situation and taxpayer.
The information provided below is for general reference only and does not constitute tax or legal advice.
CP14 – Balance Due Notice
Sent when the IRS shows a balance due on a tax account, including penalties and interest.
CP501 / CP503 – Reminder Notices
Follow-up reminders sent when a balance due remains unpaid after an initial notice.
CP504 – Final Notice Before Levy
Notifies the taxpayer of the IRS’s intent to levy certain assets if the balance remains unpaid.
CP2000 – Underreported Income Notice
Issued when the IRS identifies income that may not have been reported on a tax return.
Letter 2205 – Audit Notification
Informs the taxpayer that their return has been selected for examination.
Letter 566 – Audit Information Request
Requests additional documentation to support items reported on a tax return.
Letter 525 – Examination Report
Explains proposed changes to a tax return following an IRS examination.
LT11 / Letter 1058 – Final Notice of Intent to Levy and Notice of Your Right to a Hearing
Sent before the IRS may take enforced collection actions, such as levies, and outlines appeal rights.
If you receive an IRS notice or letter:
Do not ignore it
Review the notice carefully
Be aware of response deadlines
If you’re unsure how the notice applies to your situation, professional guidance can help you avoid unnecessary penalties or enforcement actions.
If you need personalized help,
our team is here to help.
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