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When the IRS Comes Knocking For taxpayers in Connecticut, nothing creates anxiety quite like an IRS notice. The CP501 and CP504 are among the most common — and they escalate quickly if ignored. CP501: The First Reminder This is often the IRS’s initial contact about your unpaid balance. It outlines how much you owe, due dates, and basic payment instructions. While it may…
Why IRS Penalties Feel Overwhelming Every year, thousands of taxpayers in Connecticut receive IRS letters not only demanding back taxes but also piling on penalties and interest. These penalties can add 25% or more to your balance, sometimes doubling what you owe. For families and small business owners in Westport and the surrounding Fairfield County area, this can be…
An IRS notice isn’t a suggestion — it’s a formal warning that demands a response. Ignoring it can cost you far more than the original issue. It starts with a basic letter explaining a discrepancy or balance due. With no reply, the IRS moves forward with collection. That can mean wage garnishments, liens against your property, or direct withdrawals from your bank account.…
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