Cp 14 - Balance Due

A CP 14 notice is sent to a taxpayer to show the amount of underpaid tax. The notice has sections for information on the tax payments you reported, the credits that were applied to your account, and of course, the underpayment amount. You want to pay most attention to the amount of the underpayment as this is the detail that the IRS is asking you to address.

What should I do after receiving a CP 14 notice?

This is not a notice to ignore. If you receive a CP 14 you need to immediately consider all your options. The first thing you need to do is review the payments that were applied to your account. The IRS does make mistakes, and you want to make sure that all the information is 100 percent accurate. If you find a mistake, notify the IRS at once so they can fix it and adjust your account.

If everything looks good, it is your responsibility to pay the amount due by the date listed on the notice. What if I don’t pay by the due date? In this case, you will be charged interest and penalties. Those who do not have enough money to pay the full balance can request an installment agreement so they can pay their debt over many months.

If you do not feel that you should have received a CP 14 notice you should feel free to contact the IRS. The reason that you do not agree with the notice will determine the action that you can take. You can contact the IRS by mail or phone to fix the problem or determine what to do next.

Even though dealing with a CP 14 notice is an inconvenience, it can be taken care of if you know which steps to take.

By: Manuel Davis Jr

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