[Slideshare] Don't Panic: It's Just a Tax Notice from the IRS!

Don’t Panic, It’s Only an IRS Tax Notice!


Don’t Panic: It’s Just a Tax Notice from the IRS! from Patriot Software, LLC
Visit our original IRS Tax Notice blog post.

 

Tax Notice [Slideshare] Script

  1. Don’t panic: It’s just a tax notice from the IRS!
  2. Receiving a tax notice from the IRS can be scary.
  3. But, there are some straightforward steps to take in response to a tax notice.
  4. First: Don’t panic! Receiving a tax notice doesn’t mean you’re in trouble (seriously).
  5. There are many reasons the IRS might contact you. Maybe you have a balance due, your return was changed, or your identity needs to be verified.
  6. In fact, the IRS sends millions of tax notices each year. Resolving a tax notice can be as simple as mailing a document to the IRS.
  7. Second: Read the tax notice carefully.
  8. Instructions for responding to the IRS, like: deadlines for a response; who to respond to; and ways to respond are always included in the notice.
  9. Each tax notice is assigned a unique number. You can search the number on the IRS website to find more details about your tax notice.
  10. Identify that the tax notice is really from the IRS. The IRS will never contact you through email or social media.  Report scams to the IRS here.
  11. Third: Don’t delay in taking care of your tax notice.
  12. Address the issue ASAP to avoid missing response deadlines. Penalties for ignoring a tax notice could include a tax lien, or interest on your debt.
  13. Some tax notices may not require a response. If you agree with a correction on your tax return, you don’t have to respond. But, if you disagree with a correction or owe money to the IRS, you should respond according to the directions on the notice.
  14. If you can’t respond to the notice (e.g. you can’t pay the amount you owe), consider contacting the: Taxpayer Advocate Service. It’s an independent organization within the IRS that works to resolve tax problems.
  15. Fourth (and finally): Consider involving a tax professional. If you’re intimidated by the IRS, your tax preparer or CPA can help you.
  16. Thanks for reading! Find more accounting tips & training at: patriotsoftware.com/accounting/training/blog
  17. Sarah Lawrence, Owner of Black Sheep Boutique. Patriot PAY Customer Since 2014. Photo Courtesy: Farm Shopping Center

Patriot Software, LLC, offers payroll & accounting software for small business owners across the fifty United States, in all 18,000 tax jurisdictions. Start your free 30-day trial today at: patriotsoftware.com

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