Showing posts with label Collections. Show all posts
Showing posts with label Collections. Show all posts
Tuesday, August 12, 2008
IRS Sharing of Confidential Information
When a tax payer is under investigation, the IRS has legal authorization to disclose confidential information to other government agencies, including city and state tax agencies and the department of justice. In addition to this, they have the freedom to interview neighbors, former and present employers or employees and family members. A competent representative will be able to let the taxpayer know his or her rights and provide proper representation in order to bring the investigation to a close by reaching a proper agreement with the IRS.
Monday, June 30, 2008
IRS Letter
Question: I recently received a letter from the IRS. Is it wise to contact them on my own or do I need a lawyer?
Answer: Typically the IRS will send out a letter for the following reasons: Missing information on your income tax return, under reporting of income, audit of a tax return or returns, unpaid tax liabilities and collection notices (usually certified).
It is always a good idea to try to understand as much as possible about the issue and what the notice is about, depending on the severity of the situation seek assistance when necessary. Many of the issues involving an IRS letter, however, can be resolved easily by contacting the IRS and providing the requested information on your own. If the notice involves under reporting of income you should contact the tax preparer. If you received a certified letter it is most likely a collection notice that needs urgent attention. It is imperative at that point that you seek a competent tax professional to contact the IRS, assess the situation and advice you on the options that may be available to you.
Answer: Typically the IRS will send out a letter for the following reasons: Missing information on your income tax return, under reporting of income, audit of a tax return or returns, unpaid tax liabilities and collection notices (usually certified).
It is always a good idea to try to understand as much as possible about the issue and what the notice is about, depending on the severity of the situation seek assistance when necessary. Many of the issues involving an IRS letter, however, can be resolved easily by contacting the IRS and providing the requested information on your own. If the notice involves under reporting of income you should contact the tax preparer. If you received a certified letter it is most likely a collection notice that needs urgent attention. It is imperative at that point that you seek a competent tax professional to contact the IRS, assess the situation and advice you on the options that may be available to you.
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