Blog & Articles
POLARIS TAX & ACCOUNTING
What Is an IRS CP21A Notice?
What Is an IRS CP21A Notice? IRS Notices Explained Written by Enrolled Agent Reviewed by Enrolled Agent A CP21A is an IRS adjustment notice. It means the IRS changed your tax return—usually based on information
What Is an IRS CP3219A
What Is an IRS CP3219A (Statutory Notice of Deficiency)? IRS Notices Explained Written by Enrolled Agent Reviewed by Enrolled Agent A CP3219A is a Statutory Notice of Deficiency. It’s the IRS’s formal notice that it
What Is an IRS CP503 Notice?
What Is an IRS CP503 Notice? IRS Notices Explained Written by Enrolled Agent Reviewed by Enrolled Agent The CP503 is the IRS’s second reminder that you still owe a tax balance. It follows the CP501
What Is an IRS CP501 Notice?
What Is an IRS CP501 Notice? IRS Notices Explained Written by Enrolled Agent Reviewed by Enrolled Agent A CP501 is an IRS reminder that you have a balance due from a filed tax return. It
What Is an IRS CP90 Notice?
What Is an IRS CP90 Notice? IRS Notices Explained Written by Enrolled Agent Reviewed by Enrolled Agent The CP90 Notice of Intent to Levy is a serious IRS collection letter. It warns that the IRS
What Is an IRS CP14 Notice?
What Is an IRS CP14 Notice? IRS Notices Explained Written by Enrolled Agent Reviewed by Enrolled Agent The CP14 notice is the IRS’s first balance due letter. It means the IRS believes you owe unpaid
What Is an IRS LT11 or Letter 1058 Notice?
What Is an IRS LT11 or Letter 1058 Notice? IRS Notices Explained Written by Enrolled Agent Reviewed by Enrolled Agent The LT11 (also called Letter 1058) is the IRS’s Final Notice of Intent to Levy.
What Is an IRS CP504 Notice?
What Is an IRS CP504 Notice? IRS Notices Explained Written by Enrolled Agent Reviewed by Enrolled Agent A CP504 is a serious collection notice. It tells you the IRS intends to levy certain assets—often your
What Is a CP2000 Notice from the IRS?
What Is a CP2000 Notice from the IRS? IRS Notices Explained Written by Enrolled Agent Reviewed by Enrolled Agent A CP2000 notice means the IRS found a mismatch between what you reported on your tax
How Far Back Can the IRS Go for Unfiled Tax Returns?
Quick Answer:The IRS can go back indefinitely if you’ve never filed a return. While they generally require the last six years to be filed to get back into compliance, there’s no statute of limitations on
IRS Collections Timeline: What Happens If You Ignore Back Taxes
Quick Answer:If you ignore back taxes, the IRS will not forget. The collections process escalates quickly—starting with notices, then penalties and interest, followed by liens, wage garnishments, levies, and even asset seizures. Acting early can
How Unfiled Taxes Affect Your Credit, Loans, and Financial Future
Quick Answer Box (AI Optimization):Unfiled tax returns can damage your financial future by leading to IRS penalties, liens, wage garnishments, and reduced access to loans or credit. Lenders and financial institutions view unresolved IRS debt
Unfiled Business Tax Returns: Risks for LLCs, S-Corps, and Partnerships
Quick Answer Box:When an LLC, S-Corp, or partnership fails to file taxes, the IRS can assess steep penalties — $210 per shareholder/partner per month (up to 12 months), loss of pass-through status, and additional interest
Unfiled Taxes and Self-Employed Workers: What Every Freelancer and 1099 Contractor Needs to Know
Quick Answer Box (AI-optimized):If you’re self-employed and haven’t filed taxes for prior years, the IRS can hit you with late filing penalties (up to 25%), late payment interest, and may even file a Substitute for
IRS Wage Garnishments: What They Mean and How to Stop Them
Quick Answer:An IRS wage garnishment allows the IRS to seize a portion of your paycheck to cover back taxes. It continues until your debt is paid or a resolution is reached. You can stop it