You must never forget that IRS Tax Notices support the very foundation of this countries tax structure. When the IRS Computer has a problem matching reported income, interest, mortgage payments, 1099-MISC or any other income, to a taxpayers tax return, you more than likely will receive a Notice from the IRS. Usually these notices are only to ask questions, to help the IRS Computer and the IRS Human to understand what the h_ _ _ you are doing on your tax return.
These Notices are extremely important and should not be ignored or taken lightly. If you don't understand the Notice, notify a Tax Professional immediately. An IRS Notice generated by the IRS Computer can become a nightmare in your financial life, if the IRS Computer has to notify an IRS Human because you ignored the Notice!
Below are tips, directly from the IRS on how to handle an IRS Notice:
Eight Tips for Taxpayers Who Receive an IRS Notice
These Notices are extremely important and should not be ignored or taken lightly. If you don't understand the Notice, notify a Tax Professional immediately. An IRS Notice generated by the IRS Computer can become a nightmare in your financial life, if the IRS Computer has to notify an IRS Human because you ignored the Notice!
Below are tips, directly from the IRS on how to handle an IRS Notice:
Eight Tips for Taxpayers Who Receive an IRS Notice
1. Don’t panic. Many of these letters can be dealt with very simply.
2. There are a 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.
3. Each letter and notice offers specific instructions on what you need to do to satisfy the inquiry.
4. If you receive a notice about a correction to your tax return, you should review the correspondence and compare it with the information on your return.
5. If you agree with the correction to your account, usually no reply is necessary unless a payment is due.
6. If you do not agree with the correction the IRS made, it is important that you respond as requested. Respond to the IRS in writing 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 lower left corner of the notice.
Allow at least 30 days for a response from the IRS.
7. 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 corner of the notice. When you call, have a copy of your tax return and the correspondence available.
8. Keep copies of any correspondence with your tax records.
Additional, Important Notes:
a.) Never send the IRS your original documents, always send a copy.
b) If you owe the IRS money and don't yet have the money to pay, you may want to speak with a tax professional to serve as a buffer and help you prepare to provide the correct and true information to the IRS. It is a Federal crime to lie to a Federal Agent. It is always best to be prepared, rather than to lie.
c) Never be afraid to ask questions. IRS Forms are the key to getting the IRS to help you help yourself.
