How to handle an IRS notice or Audit Notice By Folasade Ayegbusi
The moment you receive that dreading envelope in the mailbox you panic.
My first form of advice is to RELAX. Open the envelope and read the top right hand corner that says tax year and then the body of the notice.
- You want to review the reason why you received the notice.
- If there was an adjustment (change) in your income, credits, or deductions you need to compare the information in your tax return to the notice.
- If you have questions or concerns contact the number written at the top right hand corner. When you call, be prepared and have a copy of your tax return handy.
- Sometimes the IRS specifically requests that you respond. It is important that you respond to the IRS if they request that in the notice, even if all you do is contact them to let them know you agree with the notice. Usually though, a response is not necessary unless a payment is due the IRS.
- If you disagree, respond as requested in the notice. It is important that you submit written documentation supporting why you do not agree with the IRS. After the IRS receives and processes your information, you will receive a follow-up response via mail.
- Keep a copy of your notice. Save it with your tax records.