Eight Things to Know If You Receive an IRS Notice
By Houston TX CPA Jim Trippon, on the web at www.CPAHoustonTX.com
Did you receive a notice from the IRS this year? Every year the IRS sends millions of letters and notices to taxpayers but that doesn't mean you need to worry. Here are eight things every taxpayer should know about IRS notices – just in case one shows up in your mailbox.
Don't panic. Many of these letters can be dealt with simply and painlessly.
There are number of reasons the IRS sends notices to taxpayers. The notice may request payment of taxes, notify you of a change to your account or request additional information. The notice you receive normally covers a very specific issue about your account or tax return.
Each letter and notice offers specific instructions on what you need to do to satisfy the inquiry.
If you receive a correction notice, you should review the correspondence and compare it with the information on your return.
If you agree with the correction to your account, usually no reply is necessary unless a payment is due.
If you do not agree with the correction the IRS made, it is important that you respond as requested. Write to explain why you disagree. Include any documents and information you wish the IRS to consider, along with the bottom tear-off portion of the notice. Mail the information to the IRS address shown in the upper left-hand corner of the notice. Allow at least 30 days for a response.
Most correspondence can be handled without calling or visiting an IRS office. However, if you have questions, call the telephone number in the upper right-hand corner of the notice. Have a copy of your tax return and the correspondence available when you call, to help us respond to your inquiry.
- It's important that you keep copies of any correspondence with your records.
I can't stress enough to NOT PANIC. Many times the issue is minor and can be corrected with a simple phone call or by responding to the IRS question. HOWEVER, if you find yourself in a deeper and more length IRS negotiation situation, you should contact an IRS tax expert CPA immediately.
Our IRS tax CPAs have over 50 years of combined experience and can assist you with all of your IRS negotiation needs. Give us a call today at 713-661-1040 and let us put our experience to work for you TODAY!