Tag: cp71
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What Taxpayers Should Know About the IRS CP71 Notice and How an Enrolled Agent Can Help
– The IRS CP71 Notice, titled “Annual Reminder of Balance Due,” alerts taxpayers annually about unpaid taxes including penalties and interest, without immediate collection action but with potential future enforcement. – Ignoring the CP71 can lead to escalated IRS collection actions such as liens or levies. – Steve Perry, an Enrolled Agent (EA) at Books,…