It’s a moment when many taxpayers are dread. Each year the IRS mails millions of letters to taxpayers for many reasons. But don’t panic; many of these letters can be dealt with simply and painlessly.
Here are dos and don’ts to follow if you receive correspondence from the IRS or state tax authority:
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Don’t Ignore It
Don’t procrastinate or throw the letter in a drawer, hoping the issue will go away. Each notice deals with a specific issue and includes specific instructions on what to do.
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Don’t Panic
What you need to do is read the letter carefully and take the appropriate action. If you are unsure how to respond, consult with an Enrolled Agent who can represent you to the IRS.
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Do Take Timely Action
Review the correspondence carefully. A notice may reference changes to a taxpayer’s account, taxes owed, a payment request or a specific issue on a tax return. Taking action timely could minimize additional interest and penalty charges.
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Do Review the Information
The taxpayer should review the information and compare it with the information or tax returns previously filed. If you are unsure how to handle the correspondence with the IRS, consult with an Enrolled Agent.
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Be on The Lookout for Scammers
Be on the lookout for scams. If you are at all suspicious – go with your gut – contact an Enrolled Agent who is experienced in reviewing and handling IRS correspondence.
Please give this office a call if you have questions related to a correspondence you received from the IRS. Contact us today at admin@fas-accountingsolutions.com or 832-437-0385.
