Did you receive an IRS notice and you are not sure what to do? Congratulations! You are one of the millions of taxpayers who were lucky enough to receive an IRS notice/letter this year. Please do not pull out your hair, help is on the way.
The notice you have received is computer generated and more than likely requires a simple response. If you do not understand the notice, call the IRS at 1-800-829-1040. An agent will be able to explain what the notice is stating and how you should respond. Be sure to take note of the agent’s name and ID. This way, when you write your letter, you are able to reference the agent you spoke with and your conversation.
What if there is outstanding tax due, plus penalties and interest from changes made by the IRS?
It’s important that you do not just blindly pay the amount being assessed. The majority of the time, the IRS is making adjustments that they should not be. This can easily be reconciled by writing the IRS a response with a copy of the workpaper that shows you correctly reported the amount. This is another important reason for you to keep all of your tax documents.
If you do not call or write a letter to the IRS by the due date of the notice, you will be assessed additional penalties and interest. Letters need only be post-marked before the due date. We also highly recommend keeping copies of everything sent to the IRS just in case they send out another notice saying you have not responded to the first one.
If you still are unsure what to do with your tax notice, please give us a call. We are more than happy to handle notices on your behalf.