Eight Things You Need To Know If You Receive An IRS Tax Notice

Eight Things You Need To Know If You Receive An IRS Tax Notice:
Getting a notice from the IRS can cause panic. But don’t worry. Every single year millions of these notices are sent out to taxpayers. Here are the guidelines for what to do.

1. Keep your head on your shoulders. A large portion of IRS letters can be dealt with very easily.

2. Most IRS notices are extremely specific. They typically are a notice of a change with your account, the request to pay taxes, or they may request additional information. If you get a notice it usually covers very specific issues.

3. Each notice and letter that you get will give you very specific instructions about what you need to do next.

4. If the notice is about having to correct your tax return, you need to review it (or have your tax accountant review it) and compare it with what’s on your return.

5. If you and your accountant agree with the notice and the correction to your tax return, usually there is no other action needed.

6. If you and your accountant don’t agree with the correction, you need to respond to the notice as the IRS requested. You want to respond in writing and explain in detail why you disagree. Be sure to include any supporting documentation and the tear-off at the bottom of the IRS notice. Mail the information in and give the IRS 30 days to respond. Most accountants will take care of this for you for a small fee if you’ve had them prepare your taxes.

7. Most of the time a written letter is sufficient. But if you have questions you can call the IRS.

8. Be sure to always keep copies of the letters you send to the IRS and the ones that you receive.
For help with any issues you may have with the IRS please contact us. We’ll be happy to help you quickly and efficiently.