Did you just receive an IRS Notice? If so, you may be asking yourself what to do or how quickly to act. First of, DONT PANIC You are not alone! The IRS sends out millions of notices each year and the volume is only increasing. With this in mind, it can feel beyond overwhelming when your notice or letter arrives in the mail specially once they start sending certified mail.
Your IRS Letter or Notice (what it means)
Read your letter carefully and identify what the subject matter is. More likely than not, the notice may contain the following information within your letter heading itself:
They need to ask you a question about your tax return. (5071C)
They are challenging or already made changes to your tax return. (IRS Tax Audit) (CP2000)
Your Account has been assigned to a Revenue Officer (IRS Auditor with a badge) (566-S, 531T)
You are entitled to a greater or smaller refund. (CP2000, CP3219A, CP30, CP24, CP23,CP22A)
They require more information about you or your dependents. (CP75A, CP11, CP60, CP05)
They must confirm your identity in order to remove your tax return or account hold. (5071C)
They must advise you of any delays in the processing of your refund.
You have a tax debt balance you are obligated to pay. (CP501, CP503, CP504B, CP504)
They are seizing your Bank Account or Property (house) through an IRS lien or levy. (CP504 & CP504B)
Responding
There is no need to notify them if you agree with the changes the IRS made. If you owe a debt, follow the payment procedures. If you disagree or cant afford it, simply speak to one of our tax professionals to see what your options are. If there’s a deadline to reply, be sure to respond prior to the date to avoid any interest or penalties. In addition, consider keeping your copy of the notice in case you will need to refer to it, once you speak to one of our professionals they will ask you for certain details located in the IRS Letter.(714)425-4770.
Don’t Ignore Your IRS Letter / Notice
In cases that pertain to owing some type of debt, it is understandable that you would not respond if you cannot pay. That is not a good idea. The longer you procrastinate, the more interest and penalties will accrue, making your relationship with the IRS very difficult and give you less room to negotiate. Do you need help dealing with your back taxes? There is a relief program that consolidates most if not all the tax relief programs into a one-size-fits-all assistance program it's ; The IRS Fresh Start Program. Many of the people we help here at Tax Accounting Bureau are referred to the Fresh Start Program in order to avoid bankruptcy, acquire tax debt relief, and resolve their IRS tax problems in a quick manner. Let us give you a helping hand today!
How Simple Is Qualifying?
Considering that the Fresh Start Program is a federal program, you would think meeting the qualifications may be very difficult, but really, it’s a lot simpler and quicker than you think. Take the following steps in order to find out if you are eligible in as little as 3 minutes.
Fill out some basic information about yourself and your back taxes here.
Speak to one of our tax professionals to discuss your eligibility. (714)425-4770
Go through the qualifying process to understand your situation, go over your options, and see if the Fresh Start Program is a good fit for your situation. (CONSULTATIONS ARE FREE!)
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