If you file your taxes and reports diligently and on time, you probably don’t expect to hear from the IRS. But what if you do receive a notice? Follow these tips on understanding and handling the unexpected notice.
Is this really from the IRS or is it spam?
The IRS does not initiate correspondence with taxpayers to request personal information through unsolicited email, texting or social media channels. Most often, the IRS communicates through written letters.
Why is the IRS contacting me?
There are many reasons the IRS might need to contact you. Although many letters are sent to request payment, there may be a simpler issue like changes or corrections to your account.
What do I do with this?
There will be specific instructions for you to follow, and if you are confused, call the IRS directly. Read it carefully and compare it to your tax return, if applicable. Submit all information requested.
Can I just handle this tomorrow?
Although the due date may be a few weeks out, I highly advise you to take care the issue as soon as possible! Issues with the IRS never resolve themselves, and delayed or non-compliance with the IRS will only cause more frustration and consequences, and perhaps additional penalties and interest as well.
I responded and took care of the issue. Can I throw this notice away?
Good record keeping is essential in many areas of business – and it’s important to keep a record of all information sent and received. Keep a detailed record of all notices and correspondence, and file it with your tax return.
Wait! I still have questions!
If you are still unsure how to proceed with handling a notice, give us a call and we’ll steer you in the right direction!