IRS Resumes Sending 500 Series Balance Due Notices
Although IRS has continued to issue most agency notices, the 500 series were suspended temporarily due to COVID-19. Some taxpayers have now started to receive the updated 500 series notices with current issuance and payment dates.
The 500 series includes three different types of notices that alert taxpayers about varying stages of nonpayment: the CP501, the CP503 and the CP504. IRS encourages taxpayers who are unable to pay to consider payment options, since penalties and interest continue to accrue.
IRS may be able to remove or reduce some penalties for those taxpayers who have been affected by the pandemic or other circumstances beyond their control. Get details here