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Don’t Ignore the IRS

September 14, 2014  |   Tax Advice   |   Tags: , ,  

The absolutely worst thing you can do when you have a tax problem is ignore the IRS. They do not go away and ignore you in return. If you truly are not aware you have tax issues, you don’t need to worry right away. The IRS will inform you of any issues and will work with you if you make honest efforts to resolve the issues.

IRS NoticeUsually, the IRS will first try to contact you by mail. When they do this you have to pay close attention to what they say. You should respond to most IRS notices within a reasonable about of time. It’s important that you reply to them, or you risk aggressive IRS actions.

IRS notices usually deal with some issue that has cropped up. It could be with your tax account or you tax return. It may be possible that there is an error on your tax return or they could ask you for more information.

You need to carefully read through and follow the instructions on the notice.

If the IRS corrected your tax return you should review the information in the notice and then compare it to your tax return and tax records. Many times, you won’t need to reply unless you owe additional tax.

If you do not think the changes are correct you have to reply with appropriate reasons.

You need to have information and, importantly, documents as proof of your claims. You will be required to mail your proof to the address shown in the lower left part of the notice you received. Be patient, you will have to wait at least 30 days for a response from the IRS.

If you are unsure about handling the issue yourself, it is a good idea to get in touch with a licensed tax professional. They will be able to give you guidance about working with IRS, or will even work with the IRS for you.

Do not let the problem go unaddressed. Don’t be scared as even if things get complicated. If you ever get intimidated, just remember that as a taxpayer, you have rights.