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Tips for when you receive an IRS letter

Read the Letter Promptly – Putting off opening the letter won't assist you, and postponing can indeed cause you harm. In numerous cases, the IRS is essentially looking for more data or clarification of a few angles of your tax return, which makes it time-sensitive by definition.

Check for Inaccurate Data – Review the notice for any mistakes such as an incorrectly spelled name or an incorrect Social Security number and compare any noted corrections or changes in your return together with your original submission. These may be basic mistakes, adjustments to correct errors on your original return.

Reply Instantly When Necessary – Not all IRS notices require an answer, but when they do, it's important to answer quickly. Typically, you'll have thirty days to reply. The only letter that requires a more urgent response is Letter 692.

Address Any Required Payments – In the event that you have underpaid your taxes and gotten a balance due notice, you must address the issue promptly in order to maintain a strategic distance from penalties. In case you can't pay the sum due quickly, you'll qualify for extra time to pay or for alternative payment choices such as installment agreements.

Keep all IRS Correspondence – Keep the IRS letter, together with any replies that you make, along with your important tax records. You'll need this data in case of future questions or disputes.

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