First and foremost - if you receive a letter from the IRS - don’t ignore it and don’t panic. Open the letter and read it carefully. If the IRS has changed the tax return you should compare the information provided in the notice to the original return. If you agree with the correction the next step is to follow the instructions in the letter. If you don’t agree or need to respond to the notice do this in a timely manner in order to minimize additional interest and penalty charges and to preserve your appeal rights. If you owe money it is important to pay as soon as you are able. If you require a payment plan you can go to https://www.irs.gov/payments for further information on payment options.

Retain a copy of the letter with your tax records. All tax records should be kept a minimum of seven (7) years. Remember that the IRS will not contact you over social media or by text message. The first contact from the IRS is usually by mail. For further information on IRS notices go to https://www.irs.gov/individuals/understanding‐your‐irs‐notice‐or‐letter 

You can also let the professionals at CEA assist you with understanding an IRS notice. Give us a call.