Cook Wealth Management Group

Uh Oh… I Got an IRS Notice

worry over irs noticeTake a deep breath and don’t panic. When the IRS sends a notice, often they just need additional information to clear up a difference between their records and yours.

  • An IRS notice will specify an issue related to your account or tax return. The notice may request payment of taxes, notify you of a change to your account, or simply request additional information.
  • The notice provides instructions to satisfy the inquiry. Usually, the best place to start is comparison of your return with the details provided in the notice.
  • If you agree with the notice, (ask your tax advisor to confirm) send in your payment with the payment portion of the notice by the required date to avoid further penalties. Write your social security number and the tax period in the memo section of your check and keep a copy of everything for your records.
  • If you do not agree with the notice, act fast. Gather your documents and write a detailed explanation to the IRS. Mail your response (the address is on top of the notice) with a copy of the notice before the due date to allow time for processing. The IRS aims to respond within 30 days but will more likely get back to you within 45 to 60 days.
  • You can always call the IRS directly, but be aware, the wait times are often long and the music on hold can be annoying. When you call, have the notice and your tax return on hand.
  • If we prepared the return for which you received an IRS notice, we will be happy to assist you in sufficing the IRS requirements and/or attempting to resolve any inconsistencies.

For further information on IRS notices, see Publication 594 – The IRS Collection Process. For information about penalties and interest, see Publication 17 .

Information provided by the IRS.