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What If The IRS Commits A Mistake?
By Darrin Mish
There is a horror story that each tax advisor can tell about the IRS making errors in the thousands of dollars. In 1986, $890 million of the $2.5 billion in penalties the IRS assessed were dropped. The manager for tax policy of the US Chamber of Commerce, David R. Burton, determined these figures. Unfortunately, the IRS commits other considerable mistakes aside from this. The initial letters which inform taxpayers that they have filed late or somehow underpaid the proper amount are typically wrong about 15-20% of the time. This shows that the IRS is unjustifiably demanding millions of people to pay their erroneous tax liability. So what do you do when you get a notice and you understand that the IRS often commits mistakes which end up being your IRS issue? Jo Carole Klepack, a tax manager from New York states, "The first rule in replying to an IRS notice is not to assume that they are correct." IRS notices always has a phone number to call for any questions, but says Israeloff, Trattner, & Company's Robert Israeloff, "We found that accomplished very little because when you call, you speak with a clerk who isn't familiar with the case." The best method is to write a letter. You should make sure that you send only copies of legal documents and make sure you utilize certified mail or some other form of delivery where it can be verified that the mail was received by the IRS. IRS notices are issued by computer systems, so you'll most probably get many more notices before your problem is actually resolved. But resolved through the mail are most problems. However, you'll benefit from visiting an IRS office or seeking tax advice from a professional if the mistake involves a substantial amount of money. Instead of waiting for your letter to be read, dealing with an IRS agent face to face is so much better. Numerous people believe that the IRS will assess their tax records further if they visit an IRS office. This is incorrect; in fact, you may be bringing the error to their attention sooner so they can stop proceedings immediately until the issue is resolved. Some people may also benefit from IRS errors, though this is very rare. You could end up getting a bigger refund than what you are entitled to. However, this may lead to bigger IRS issues, so it's best not to cash these checks. Indeed, when addressing issues with the IRS, it is advised to be patient.
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