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Received an IRS CP503 notice and worried about what happens next? I respond to a taxpayer who is amending a return after a 1099-R reporting mistake and wants to know whether the IRS will keep moving forward with collections.
I explain where CP503 fits in the collection-notice sequence, how it differs from CP504 and a final notice of intent to levy, and why submitting an amended return doesn’t mean the IRS will process it quickly. I also discuss collection due process hearing rights and how a pending amendment ...