IRS NOTICES!
If you've received a letter from the IRS, it's important to take it seriously and respond appropriately. Here's a breakdown of what you should do:
- Don't Panic, but Don't Ignore It: Receiving an IRS letter can be unsettling, but it doesn't automatically mean you're in trouble.
Crucially, do not ignore the letter. Most IRS letters and notices concern federal tax returns or tax accounts, and prompt action can help avoid further issues.
- Carefully Read and Understand the Letter: Read the letter thoroughly and completely. Most letters address a specific issue and provide instructions.
Identify the reason for the letter. Common reasons for IRS letters include:
You have a balance due. Your refund has changed. The IRS has a question about your return. The IRS needs to verify your identity. The IRS changed or corrected your return. There's a delay in processing your return. You're being audited. You're facing collection actions (liens, levies). Note any deadlines or required actions. Missing deadlines can result in penalties or further complications.
Compare the Letter to Your Records: If the letter involves changes to your return, compare the information in the letter with your original tax return. Review your records to ensure the IRS's information is accurate.
Take Action Based on the Letter's Instructions: If you agree with the letter, follow the instructions provided, which may involve paying a balance due or acknowledging a change. If you disagree with the letter, you have the right to dispute it. Follow the instructions in the letter to appeal or dispute the IRS's findings.
Gather documentation to support your position and send it to the address provided in the notice. You may need to file a formal protest if the issue is complex. If the letter requests information, provide the requested documents or explanation by the deadline.
Respond Timely: Respond by the deadline specified in the letter, regardless of whether you agree or disagree. Keep a copy of the letter and your response for your records.
Consider Professional Help: If you're unsure about how to respond, consider consulting with a tax professional (CPA, Enrolled Agent, or tax attorney).
A tax professional can help you understand the letter, assess your options, and prepare a response. Contact Tennex Tax Relief today for a free consultation.
- Be Aware of Scams: The IRS will never contact you by phone, email, text, or social media to demand payment or personal information. If you receive a suspicious communication, do not provide any personal or financial information. You can check your IRS account online at IRS.gov to verify if you owe taxes.
In summary, carefully read and understand the IRS letter, compare it to your records, respond by the deadline, and consider professional help if needed. If you would like professional assistance, please contact Tennex Tax Relief today at 833-836-6398.
