I Got a Tax Notice – Now What?!
Every year, the number of notices sent out by both federal
and state tax authorities seems to increase.
The sight of that envelope can send shivers down your spine, but don’t
panic!
First, if you had a CPA prepare your taxes, ask them to
review the notice. Your CPA can let you
know what the taxing authority is looking for and what steps, if any, you need
to take.
Next, submit the information requested by the date provided
in the letter. Never let the deadline
pass without contacting the sender, as your account may be adversely adjusted
or your refund may be delayed.
There are many reasons that you may receive a notice. As identity theft is on the rise, we are
seeing more letters that request information from the taxpayer in an effort to
confirm the information provided in the tax return is correct and that the
return has indeed been filed by the taxpayer before a refund is issued.
Most importantly, never ignore a notice. Take
action immediately and use your CPA as a resource, we are here to help you!
No comments:
Post a Comment