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New Member
posted Nov 4, 2023 5:46:02 AM

tax due notice from IRS, CP501, after efile with Turbo Tax 2022

I just received form CP501 from the IRS stating taxes are due for 2022.  Also stated was interest for unpaid taxes dating back to 5/22/23, however I never received a notice of taxes due after filing. All taxes were paid as calculated by Turbo Tax for the 2022 tax year. The tax due notice does not specify why I owed more taxes that was calculated by Turbo Tax. Do I have any recourse other than to pay the balance requested by the IRS?

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3 Replies
Level 15
Nov 4, 2023 5:57:52 AM

From this IRS site:

https://www.irs.gov/individuals/understanding-your-cp501-notice

 

Understanding Your CP501 Notice

What this notice is about

You received this notice because you have a balance due (money you owe the IRS) on one of your tax accounts.

View this notice and manage your communication preference online

Sign in to your Online Account to:

  • View and download this notice
  • Go paperless for certain notices
  • Get email notifications for new notices

What you need to do

  • Read your notice carefully. It explains how much you owe, when your payment is due, and your payment options.
  • Pay the amount you owe by the due date shown on the notice.
  • Make a payment plan if you can't pay the full amount you owe.

  • Contact us if you disagree by calling the toll-free number shown on your notice.

New Member
Nov 4, 2023 3:04:11 PM

I've been to the IRS site and my account. I called the IRS phone number referenced on the notice and the automated system provided a slightly different amount of taxes due. Because it was a weekend call I could not get a live person. Neither the automated system nor my IRS account has any information about why my taxes paid as calculated by Turbo Tax software was inaccurate. I would like to know in what area of the tax return there was an error. It may be possible that there was a missed entry, incorrect amount entered entered, or some other factor that caused this situation. I think it would be helpful to have additional specific information so that this does not repeat in future tax filings. 

Level 15
Nov 4, 2023 4:20:29 PM

One thing,  If you had a tax penalty on 1040 line 38 that is only an estimated amount and it is common for the IRS to bill you for more.