This is the time of year when the IRS sends out notices about things they’ve noticed in your tax return. It’s easy to feel your heart beating faster when you see that letter in your mailbox. Here are some tips to follow if you get one of those dreaded notices.
- Don’t panic. You often only need to respond to take care of a notice. Contact your tax professional immediately, he or she always wants to know if you’re hearing from IRS. An Enrolled Agent or CPA can even represent you if necessary.
- There are many reasons why the IRS may send a letter or notice. Typically it is about a specific issue on your federal tax return or tax account. A notice may tell you about changes to your account or ask you for more information. It could also tell you that you must make a payment. Please consult your tax professional before you send any money.
- Each notice has specific instructions about what you need to do.
- You may get a notice that states the IRS has made a change or correction to your tax return. If you do, review the information and compare it with your original return. Again, let your tax professional help you.
- If you agree with the notice, you usually don’t need to reply unless it gives you other instructions or you need to make a payment.
- If you do not agree with the notice, it’s important for you to respond. Your tax professional will write a letter to explain why you disagree. Be sure to mail the response within the time frame shown on your letter, and allow at least 30 days for a response.|
- Keep copies of any notices you receive with your other tax records.
- The IRS sends letters and notices by mail. They do not contact people by email or social media to ask for personal or financial information. Never provide any information to someone who calls you or emails you asking for your financial information.
Remember, your tax professionals are here to help you year round! We specialize in dealing with these letters and giving you peace of mind.