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CP518 Notice for Individuals with No Record of Tax Return on File
The Internal Revenue Service has hundreds of different types of Notices that they issue to Taxpayers for a variety of different domestic and international tax and reporting circumstances. For example, if a taxpayer has been assessed an international information reporting penalty they may receive a CP15 Notice. Alternatively, if a taxpayer has an unpaid tax or penalty, the IRS may issue a CP Form 503 or 504 putting the Taxpayer on notice that they may pursue a Notice of Federal Tax Lien or even a Federal Tax Levy on the Taxpayer’s bank accounts, wages, etc. One of the more recent common types of notices is the CP518 Notice when a taxpayer has either not filed a tax return –– and/or the tax return was (presumably) lost at the IRS before it could be processed — so that there is no record of tax return ever being filed. Let’s review the basics of the CP518 Notice.
CP518 Individuals Notice
As provided by the IRS:
What this notice is about
This is a final reminder that we still have no record that you filed your prior tax returns.
What you need to do
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File your tax return immediately or explain to us why you don’t need to file.
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Complete Form 15103, Form 1040 Return Delinquency PDF, included with your notice to explain:
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Why you’re filing late.
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Why you don’t have to file.
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That you’ve already filed.
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Detach notice stub, mail it with your tax return and completed Form 15103 using the envelope provided or fax it to the fax number in the notice using a fax machine or online fax service. Several online fax services use the internet to send files from your computer or smart device to a fax number.
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If we don’t hear from you
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We may determine your tax for you, and penalty and interest may continue to accrue.
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If you are owed a refund for the current tax year, or any prior year, it may be delayed because of this unfiled return.
You may want to
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Review what happens when you don’t file a tax return by reviewing the following:
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Check to see that you have enough money withheld from your paycheck to pay your taxes. The Tax Withholding Estimator can help.
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Learn more about your payment options if you owe additional taxes on your return.
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Learn more about an Offer in Compromise.
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Golding & Golding: About Our International Tax Law Firm
Golding & Golding specializes exclusively in international tax and specifically IRS offshore disclosure.
Contact our firm today for assistance.