How To Deal With A Letter From The IRS
/How To Deal With A Letter From The IRS
If you receive a notice from the IRS, don't automatically assume it's correct and submit payment to make it go away. Here are some suggested steps to take if you receive one:
Stay calm. Try not to overreact to the correspondence. This is easier said than done, but remember that the IRS sends out millions of these letters each year. The vast majority of them correct simple oversights or common filing errors.
Open the envelope! You would be surprised how often individuals are so stressed by receiving a letter from the IRS that they do not open the envelope. If you fall into this category, try to remember that the first step in making the problem go away is to open the correspondence.
Complete a careful review. Review the letter. Understand exactly what the IRS is telling you needs to be changed and determine whether or not you agree with their findings.
Respond in a timely manner. The IRS will tell you what it believes you should do and within what time frame. Don't delay your response to the IRS. Delays can generate penalties and additional interest payments.
Correct the IRS error. Once the problem is understood, a clearly written response with copies of relative documentation may correct the issue. It may be as simple as communicating that the information on your tax return is correct. This could easily solve the problem.
Don't assume it will go away. Until receiving communication that the problem has been resolved, you need to assume the IRS still thinks you owe the money. If no correspondence confirming the correction is received, a written follow-up to the IRS will be needed.
Get help! You are not alone. Getting assistance from a firm that deals with this all the time makes the process go much smoother and takes the stress away. If you are in this situation, feel free to call us today!