Welcome to PATP Tax Talk Tuesday

So, we've decided to make our entrance into the world of blogging. Beginning today (July 14th), we will post a topic relating to the topics of taxes, bookkeeping, or payroll. If there's a subject or question that you would like feedback on, please don't hesitate to submit it to us and we'll post it on the blog for discussion. Without any further ado, here is the first post:

What should I do if I receive a notice from the IRS?

It’s a piece of mail that most people dread: a letter arrives from the IRS — and it’s not a refund check! Don’t panic; many of these letters can be dealt with easily and without much added stress. The IRS sends millions of letters and notices to taxpayers to request payment of taxes, notify them of a change to their account or request additional information. The notice you receive normally covers a very specific issue about your account or tax return. Each letter and notice offers specific instructions on what you are asked to do to satisfy the inquiry. And usually, a quick call to your preparer will allow them to work on your behalf to resolve the matter.

If you receive a correction notice, you should review the correspondence and compare it with the information provided on your return.
•If you agree with the correction to your account, usually no reply is necessary unless a payment is due.
•If you do not agree with the correction the IRS made, it is important that you respond as requested. Write to explain why you disagree. Include any documents and information you wish the IRS to consider, along with the bottom tear-off portion of the notice. Mail the information to the IRS address shown in the upper left-hand corner of the notice. Allow at least 30 days for a response.

Most correspondence can be handled without calling or visiting an IRS office. However, if you have questions, call the telephone number in the upper right-hand corner of the notice. Have a copy of your tax return and the correspondence available when you call to aid in resolution of the matter. And, please be sure to keep copies of any correspondence with your records. It's you against the Feds...who you think is going to win this battle if you don't have your documented proof?

Remember, your questions and comments are what will make this blog more valuable and worthwhile! Feel free to post your questions or comments here, or you can please feel free to contact us at (866) 510-5477 or via email info@proctortaxprep.com.