The IRS and CP-161
The IRS sent you Notice CP-161 "Balance Due, Request for Payment or Notice of Unpaid Balance" to notify you that your Tax Return has been adjusted, which has resulted in you owing a balance to the IRS. CP161 is not a danger like a lien or levy notice from the IRS. Rather, it's merely a statement that your balance must be repaid.
CP161 Important Files
The below forms may be attached to CP161 Balance Due, Request for Payment or Notice of Unpaid Balance. The IRS may send out these other notices or documents along with CP 161 to further clarify the specifics of your tax debt problems.
Form 2210: Underpayment of Estimated Tax by Individuals, Estates, and Trusts & Instructions
Form 2220: Underpayment of Estimated Tax by Corporations & Instructions
Form 433 B: Collection Information Statement for Businesses
Form 4977: Schedule of Tax Liability
Form 941: Schedule B, Employer's Record of Federal Tax Liability
Form 945-A: Annual Record of Federal Tax Liability
Details About CP161
First things first. Carefully review this CP161 and make certain everything looks right. You don't know when there could be a wrongly applied payment. If you feel like all or most of the info laid out in CP 161 are more than you can handle, think about using a tax debt resolution company. They will guide you through the information and even map out the best plan of action for you. Particularly if your situation is urgent, a Tax Debt Resolution Company or specialist like a tax attorney can examine your case and aid you in solving your tax troubles with their plethora of experience.
Notice CP161 Complaints
It's difficult to prove to the IRS that you are not indebted to them after CP-161 is issued, but go ahead and contact the IRS or a tax debt specialist to resolve the issue now before you're in over your head. It is important to act immediately because if you put off this debt problem instead of settling it as soon as possible, the IRS will begin to withhold funds from your paycheck or savings or checking account to cover the debt they feel you owe them.
Utilizing Professional Tax Assistance
Do a little shopping when it comes to picking tax assistance, and only pick the best. Look into their background and make sure they have been in existence for at least ten years, which proves dependability and knowledge. Next, visit ttp://bbb.org, the Better Business Bureau (BBB) website. Read all of the company's relevant data, most importantly their rating. You can depend on a business with an A Rating or better with the Better Business Bureau (BBB), which ensures that you will receive a high quality of service.
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Article Added on Monday, April 9, 2012
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