IRS CP42 Notice: Second Tax Bill - Urgent Action Required
Receiving an IRS CP42 notice means your tax debt remains unpaid and the IRS is escalating collection efforts. Immediate response is crucial to prevent serious consequences.
What is a CP42 Notice?
The CP42 is the IRS's second bill for unpaid taxes, sent when you haven't responded to their initial notice (CP14).
Key Features:
- Updated balance with additional penalties/interest
- Shorter payment deadline (typically 10 days)
- Clear warnings about future collection actions
- Escalated urgency compared to first notice
Why You Received This Notice
- You didn't respond to the initial CP14 notice
- Payment wasn't received or was insufficient
- Payment plan wasn't established or maintained
- Dispute wasn't properly documented
Immediate Action Required
Within 24-48 Hours:
- Verify all notice details against your records
- Calculate current penalties and interest
- Assess your ability to pay
Within 10 Days:
- Pay in full if possible
- Make partial payment if you can
- Set up a payment arrangement
- Request hardship relief if applicable
Consequences of Ignoring CP42
- Additional penalties and interest charges
- CP501 collection notice within 30 days
- Intent to levy notices (CP503/CP504)
- Bank levies, wage garnishment, asset seizure
- Tax lien filings
Penalty and Interest Impact
- Failure-to-pay penalty: 0.5% per month
- Daily compounding interest (currently ~6% annually)
- Example: $10,000 debt grows by ~$100/month
How We Can Help Resolve Your CP42
Our emergency tax services include:
- Immediate response to stop collection actions
- Complete financial analysis and strategy
- IRS negotiation and representation
- Payment plan optimization
- Penalty abatement requests
- Asset protection planning
Don't Wait Until the IRS Takes Your Assets
A CP42 notice is your last warning before serious collection actions begin.
Call 972-519-0041 NOW for emergency assistance.