Monday, June 4, 2012

IRS Tax Notices

It is never pleasant to receive one of these in the mail. What should you do? The first thing you don't do is ignore it. It won't go away on its own, and it will likely escalate to even more unpleasantness if left unanswered. Don't panic either. Many times the notices are incorrect and have an easy fix with a simple explanation. The best approach is to notify your tax preparer and have them respond. Usually you have 30 days from the date of the notice before more penalties and interest are added and the process escalates. A call to the IRS can usually get you more time to respond if the answer is complex and requires a lot of work. Also you have to be patient with getting closure on the notice. It might take six months or longer to receive a resolution from the IRS after you have responded to them.

1 comment:

  1. This is very nice. Hope it does not take 6 months on all items.Especially if they told someone else to do something for them.
    Thanks for the update.

    ReplyDelete