Posts Tagged ‘Business Tax Returns’

What Should You Do IF You Receive A Letter From the IRS?

Monday, April 19th, 2021

The exclusive purpose for the information which is provided from this website is to disseminate information, and not to provide tax advice. 

Although there are a few exceptions to this general rule, the Internal Revenue Service will always send communications to you using the U S Postal Service. No e-mails, text messages, Tweets, or telephone calls!

The #1 rule to always remember – do NOT ignore the letter! You usually have thirty days to respond to the letter. Among the worst decisions that you can make is to ignore the letter. A prompt response will usually be favorable for your case.

From the IRS:

Issue Number: Tax Tip 2021-52

Do’s and don’ts for taxpayers who get a letter or notice from the IRS

The IRS mails letters or notices to taxpayers for a variety of reasons including if:

  • They have a balance due.
  • They are due a larger or smaller refund.
  • The agency has a question about their tax return.
  • They need to verify identity.
  • The agency needs additional information.
  • The agency changed their tax return.

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Tips to Help Take The Stress Out of Tax Season

Thursday, March 4th, 2021

The exclusive purpose for the information which is provided from this website is to disseminate information, and not to provide tax advice. 

Every filing season comes with its own set of challenges and 2021 is no different. The IRS wants taxpayers get the information they need as quickly as possible. Taxpayers can keep in mind these tips when they get ready to file. Following them will help get this year’s taxes done accurately and refunds issued timely.

  • Gather records. Good recordkeeping makes preparing a tax return easier. It can also ensure taxpayers do not overlook deductions and credits. 
  • Start with IRS.gov. IRS.gov is available around-the-clock and it’s the fastest way to get assistance. Millions of people use IRS.gov for filing and paying taxes, getting information about their accounts or answers to tax questions. The IRS Services Guide outlines the many ways taxpayers can get help from the IRS.  
  • Use online tools. IRS.gov has many useful online tools. The Interactive Tax Assistant provides answers to many tax questions specific to an individual’s circumstances. It gives the same answers that an IRS representative would give over the phone.
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