Accounting, Tax, IRS & Marijuana

Things to Know if You Receive an IRS Notice or IRS Letter

Each year, the IRS sends millions of notices and letters to taxpayers for a variety of reasons. Here are some things to know in case one shows up in your mailbox.

  1. Don’t panic. 
  2. There are many reasons why the IRS may send a letter or notice. It typically is about a specific issue on your federal tax return or tax account. A notice may tell you about changes to your account or ask you for more information. It could also tell you that you must make a payment.
  3. Each notice has specific instructions about what you need to do.
  4. You may get a notice that states the IRS has made a change or correction to your tax return. If you do, review the information and compare it with your original return.
  5. If you do not agree with the notice, it’s critical for you or your IRS representative party to respond. 
  6. Keep copies of any notices you receive with your other tax records.
  7. The IRS sends letters and notices by mail. They don't contact people by email or social media to ask for personal or financial information.
  8. Contact a tax professional to help if the notice seems out of your league to deal with on your own.