Alarmed about that letter from the IRS?
No one relishes the thought of getting a letter from the IRS. Here is a quick guide to the most common reasons for a notice from the IRS, and steps you can take.
- If you owe a past due balance on your taxes.
- If the IRS intends to levy certain assets for non-payment of delinquent taxes
- If you default on a payment agreement or installment plan.
- If you have an unclaimed tax refund
Other reasons the IRS may send you a notice:
- Incorrect or missing information on your tax return. The IRS will send you a letter requesting clarification or supplemental documentation.
- Notice that your return has been selected for an audit
Regardless of the reason for the letter, it is important that you respond right away. Setting the letter aside and hoping the IRS will forget isn’t realistic no matter how badly you want the matter to go away.
All IRS correspondence lists an 800 number and address for your written responses. Whenever you call the IRS, keep a log of when you called, who you spoke with, and the outcome/response.
If you correspond with the IRS by mail, be sure to send your letter via certified mail with a return receipt.
Most IRS notices have a clearly stated deadline. Don’t ignore it. If you can’t provide the needed information by the deadline, call the IRS and explain your situation. Chances are, you’ll get additional time to comply.
Since mail is the IRS’s first line of communication, don’t ignore any correspondence. Chances are, it’s a request for clarification on missing or incorect items on your tax return.
If the letter is a notice to pay past due taxes, or is a notice of default, don’t ignore it. Doing so will bring about legal and financial consequences that will be harder to resolve than the original problem.
If you’re facing unpaid back taxes, a pending tax lien or other tax-related hardship, we have qualified tax pros on staff who can help.
Get started today by choosing any of the options under the “Contact Us” link on your website. Whether you choose to chat, email, or call, we can help.