Understanding Your CP47A Notice

What this notice is about

You elected to defer payment of your IRC Section 965 net tax liability.

What you need to do

  • Follow the instructions in your notice carefully.
  • Make timely annual installment payments as required by IRC Section 965(h).

Answers to common questions

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.

Get help

  • You can authorize someone to contact IRS on your behalf.
  • If you can’t find what you need online, you can call the IRS at the 800, 866, or 888 number on your letter.