The IRS is an acronym that sends cold chills down the spine of many taxpayers. Although this isn’t supposed to be so, the statistics are telling a different story. Every year, over 40 million taxpayers are faced with one IRS tax problem or the other. The most common of these tax problems include Unfiled returns, Penalties, Underreporting Notices (CP2000), Audits, IRS Bills, and Tax Identity Theft. IRS tax problems can sometimes take months to resolve, depending on the extent of the problem. However, there is no problem without a solution. In this article, we show you a few steps you can take to get started on resolving your IRS tax issues.
1. Thoroughly Understand The Problem
It is okay to panic when you get a letter from the IRS about a tax problem, maybe even throw a tantrum. Afterwards you need to calm down and look into the problem. You should begin an investigation to understand what the problem is and what may be causing it. One tax problem could be caused by another insidious tax problem. For instance a tax identity theft may cause an Underreporting problem. Thoroughly understanding the problem and, more importantly, its cause would help to prevent a recurrence in the future.
2. Choose a Suitable Course Of Action
After understanding what the problem is and its root cause, you need to come up with some options you can use to resolve the problem. A little research would generate some solutions from which you can select the most feasible. Sometimes taking care of one problem can cause the others to disappear if they are all linked directly. There are instances where tax problems arise from filing or recording errors from the IRS office. If you think this is the case, you should take it up with the IRS directly. Be sure to carefully evaluate all your options to be sure you pick the right one.
3. Get Into Action Right Away
Sometimes, a delay can cause a little problem to escalate into something worse. If have gotten your head around the problem and you have come up with a solution, get to work right away. Notify the IRS of your actions in response to their letter to avoid a miscommunication problem. If for some reason you missed a deadline given by the IRS, do not let it discourage or scare you, go ahead and tackle the problem. The IRS are not out to get you, they are just doing their jobs.
Need Help with an IRS Tax Problem?
Most times, taxpayers get letters about a tax problem from the IRS that they do not understand due to technical jargon. In such a case, as with every IRS tax issue, it is important to seek help from an experienced tax attorney. At the Law Offices of Nick Nemeth, we can help you make sense of your tax problems with the IRS. We can also help you with legal representation if your situation involves a court hearing. Law Offices of Nick Nemeth has a dedicated team of experienced professionals who are trained to provide assistance for various kinds of IRS tax problems. To learn more about how we can help, simply call (972) 627-4580 or write to us at firstname.lastname@example.org.