How to Respond to CP504 Appropriately | Global Gate

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How to Respond to CP504 Appropriately!
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• Before you know how to respond to CP504, it is
  important for you to know about it in detail lest
  you end up messing up your matter. If you have
  received a notice from the IRS in your mailbox,
  it means that you have some IRS issues. You
  should not panic about them. You can easily
  handle them. Remember that numerous notices are
  sent by the IRS every year. They could be
  anything from default notices to corrections on
  tax returns. Every notice points to an issue and
  includes the details on how to settle the matter.

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What Does IRS CP504 Mean and What Steps Should
You Take?

• If you receive IRS CP504 notice, it means that
  you have a past bull due with the IRS. Also, it
  means that the IRS has sent you better before,
  but you did not take care of the issues because
  either you were unable to pay the balance due or
  you were not sure to resolve it. Remember that
  you should not be careless with the Notice CP504.
  It is important for you to know that you have
  some legal rights that you can utilize to prevent
  the IRS from taking money from you. In addition,
  you have various procedural rights to get into
  payment plans or settle the debt for something
  less.

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What Will Happen If You Ignore the IRS CP504?

• If you do not pay the IRS within 30 days, the IRS
  will send a notice to you, informing you that you
  have a hearing before the IRS Office of Appeals.
  This notice will be one of the most important IRS
  notices you will ever receive. If you fail to
  timely file an appeal, the IRS will then take
  steps to confiscate your property or the rights
  you have to your property. The properties that
  can be seized or levied include your state tax
  refund, personal assets, business assets, bank
  accounts, wages, and other income and social
  security benefits.

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What Should You Do Against IRS CP504?

• First of all, you should speak to a knowledgeable
  tax attorney before you respond to the IRS. An
  attorney will correspond with the IRS and help
  you develop a strategy so that you can avoid the
  aggravating situation. The first step in
  responding to IRS CP504 is to contact the IRS and
  appease collections to prevent levies.
• The next step involves the process of getting the
  IRS account transcripts. If you realize that you
  owe what the IRS says about you, your attorney
  will assist you in making a plan to mitigate or
  reduce the tax. The amount owed is often
  disputed. According to your situation, you may be
  able to file amended returns to lessen the amount
  owed along with a penalty abatement request.

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How to Pay Your Tax?

• When you have got your amount lessened along with
  a penalty, you need to pay your tax. For this,
  you should not wait or procrastinate because tax
  debt doesnt go away on its own. Nevertheless,
  even though the IRS has filed the notice of its
  intent to levy your state tax refund or other
  property, no linens or levies have been placed on
  your properties or funds yet. You can pay the
  bill online using your debit or credit card or
  your bank account. Some extra fees may also be
  applicable if you use a card, they will be much
  less in comparison to the consequences you will
  be facing if you do not pay heed to this tax
  notice.

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How to Pay Your Tax?

• You also have the option of paying late taxes
  through money order or cheque, using enclosed
  payment coupons and sending them to the address
  mentioned on the bill. If you mail the payment,
  it is a good idea to call the number on the IRS
  CP504 notice so the IRS can halt further
  collections.
• At Global Gate, we can help you resolve your IRS
  CP504 issues through a free consultation. We have
  four major steps that you need to followfree
  consultation, investigation, resolution, and
  freedom. We have a team of tax experts who will
  help you resolve your issues, and you will be
  content.

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Thank You

• Global Gate

• 1-877-800-8180

• info_at_globalgatecpa.com

• https//globalgatecpa.com/