Tax Relief: Don’t Let An IRS Notice Give You Goosebumps
Posted by Rob Daniel on Thu, May 13, 2010
Each and every year millions of tax payers receive the dreaded IRS Notice. It is highly likely that such a notice may turn up in your personal mailbox. Due to lack of knowledge regarding IRS procedures, many tax payers ignore the notice. The good news is you need not be alarmed. There is a great deal you can do to rectify the reasons for such a notice and get tax relief. All you need is some basic information and to open the notice as soon as you get it.
It would be very helpful if you made the time to read through Publication 594 and IRS Collection Process for the latest on IRS notices and bills. For information on penalties and interest read Publication 17. Reading material can be requested from IRS.gov or 800-TAX-TAX-FORM (800-829-3676).
Generally an IRS Notice will deal with a special issue regarding your personal account or tax return. The notice is sent for differing reasons such as a request for extra information, request for payment of taxes or notification of adjustments to your account. You will be asked to fulfill precise instructions to oblige the IRS query.
Should the IRS send you a correction notice you must examine all the communication provided and then weight it up against the data to be seen on your tax return. Once you have compared the query with your tax return you can make a decision. If you agree to the IRS’ adjustment to your account you won’t have to reply if there is no imminent payment or if the IRS Notice requests otherwise. Should you disagree with the IRS’ adjustment / correction then you must reply as directed. The IRS wants your justification for disagreeing in writing. You must also attach all data and documents you want the IRS to review. The tear-off section is at the bottom of the IRS Notice and must also be included. The address of the IRS office is printed in the upper left hand corner of the IRS Notice. It could take a minimum of thirty days for the IRS to reply.
It is possible for all queries to be managed by making a visit or phone call to an IRS office. The IRS Notice does supply a phone number in the upper right hand corner should you have any questions. If you do call then have all your correspondence and tax return on hand.
It is very important that you retain a copy of all correspondence and your tax returns for your personal records.