The Internal Revenue Service (IRS) sends millions of letters to taxpayers every year. The majority of these will be mailed out after the tax filing and payment deadline have passed. If you receive an IRS letter, don’t panic. Most notices are routine and can be easily resolved. Reasons Why You May Receive an IRS Letter…
It is not unusual for the Internal Revenue Service (IRS) to question a tax return or note an adjustment if you have been through an IRS audit. If you do not agree with a correction on your returns, you can dispute the finding through the IRS appeals process. Many taxpayers are unaware of the basic…
New research finds the Internal Revenue Service (IRS) is aiming civil audits at low-wage earners, demonstrating a confounding approach to a group less known for tax fraud than those with greater wealth. The earnings gap in the U.S. and around the world continues to increase. Throughout the pandemic, the wealthy fared better than those buffeted…
Monday is Tax Day, the federal deadline for individual tax filings and payments. Monday is Tax Day — the federal deadline for individual tax filing and payments — and the IRS expects to receive tens of millions of last-minute filings electronically and through paper forms. As of April 8, the IRS had received more than…
Was your identity stolen? Request an Identity Protection PIN from the IRS The Internal Revenue Service today reminded all taxpayers – particularly those who are identity theft victims – of an important step they should take to protect themselves from tax fraud. Some identity thieves use taxpayers’ information to file fraudulent tax returns. By requesting…
A “badge of fraud” is an indicator used by the Internal Revenue Service (IRS) to flag a potentially fraudulent return, transaction, or activity. A better understanding of what triggers IRS interest can help you steer clear of an IRS audit, or worse, an IRS criminal tax investigation. When evaluating for tax fraud, the IRS uses…
The IRS has a numbered notice for almost any communication they provide to a taxpayer. In some cases, the taxpayer may safely review a communication without taking any further action. For example, the IRS routinely sends a summary of tax debts owed annually to taxpayers as a reminder of outstanding taxes owed. But, in other cases, a…
IRS LT11 Notices (“LT11”) and Letters 1058. The IRS issues these particular “final” notices to taxpayers before it takes certain levy actions. Taxpayers must pay attention to these notices, as well as others, and understand their rights and responsibilities with respect to each. This article discusses the LT11 and Letter 1058 and how a taxpayer…
You might receive an IRS Notice CP2000 (“CP2000”) in the mail. The IRS issues these particular notices to taxpayers based on discrepancies between tax return reporting and third-party reporting. Taxpayers must pay attention to these notices, as well as others, and understand their rights and responsibilities with respect to each. This article discusses the CP2000…
To help people during this year’s filing season, many IRS Taxpayer Assistance Centers across the country will have special Saturday hours. These centers provide taxpayers with in-person help. The TACs are open from 9 a.m. to 4 p.m., local time, March 12, April 9, and May 14. No appointments are required. Taxpayers can receive walk-in…
