What Do I Do if I Receive a Letter from the IRS?

On: December 28, 2018

Open the letter and read it. You are deemed to have received and understood the full letter regardless of whether you do so or not. You will be held to its terms whether you respond or not.  The IRS is a collection agency. Do not leave it not taken care of. Interest and penalties are accruing from day one. If you feel at all lost or confused, contact a tax professional. If there is tax debt, interest and penalties are accruing against you and you can be subject to Federal tax liens, IRS seizures, IRS bank levies and wage garnishments. The IRS can enforce a collection effort without a court order. If the IRS is notifying you that you need to file returns and you do not, the IRS is authorized to file these tax returns for you and you will lose expenses, deductions and losses that you would otherwise be able to claim against your income. Often this will result in substantial tax liabilities that you would not otherwise owe. Receiving a letter from the IRS requires immediate action. If you are not able to deal with it, hire someone who can.