VALID › Notice Library › CP56 notice
In the IRS’s own words · not reviewed by VALID
CP56 notice explained, in the IRS’s own words
Your installment payment is due on your IRC Section 965 tax liability.
Read the full CP56 page on irs.gov ↗
What this notice is about
Your installment payment is due on your IRC Section 965 tax liability.
What you need to do
- Pay online specifying “IRC Section 965” when authorizing your payment.
- Make this IRC Section 965 payment separately from any other tax payments.
Will I be penalized if I can't pay the full installment amount by the due date?
Yes. You may be penalized for failure to pay and the full amount of your net tax liability may become due immediately.
Can I choose how to apply an overpayment if I pay more than the installment amount?
No. We’ll apply it to the remaining net tax liability until it is paid in full. We can only refund or apply credit-elect payments or credits exceeding the full income tax liability.
What should I do if I disagree with the notice?
Call the toll-free number listed on your notice to review your account with a representative. Have your account information available when you call.
What to do next
- Write down the date on the letter today.
- Look the number up on irs.gov yourself. Don’t trust a link or phone number from anyone else.
- If it says you owe money or proposes changes to your return, take it to a licensed CPA, EA or tax attorney before that date.
Not advice. Not a filing. Verify with a licensed professional. Rules change by year and facts.