Handling tax return and account troubles might feel puzzling, but it’s very essential to deal with them quickly. Here is a simple guide that will walk you through each step of the process. Know more about IRS Tax Help Florida
Understanding Tax Return and Account Problems
Sometimes, the information you provide on your tax return may not match what the IRS has. These can lead to discrepancies that need to be resolved. It’s crucial to find out what’s causing the issue and work towards a solution.
Steps to Address Tax Return or Account Problems
- Fully Understand Your Situation
- Start by reviewing all IRS-related documents, including notices, tax returns, and any other relevant paperwork.
- Try to grasp the IRS’s perspective on the issue. If needed, seek help from a tax professional who understands IRS language.
- Consider obtaining your IRS transcripts for a more detailed overview, though have in mind that they may not show all activities on your account. Consulting a tax expert is advisable.
- Take notes and organize your documents to have a proper understanding of the situation.
- Identify the Issues
- Once you have all the facts, pinpoint the specific tax issue that needs attention.
- If there are urgent deadlines, contact the IRS to request an extension for your response.
- Understand that different issues may have distinct solutions, so it’s essential to precisely identify them.
- Develop a Resolution Plan
- Research how to tackle the issue. It might be as straightforward as providing evidence for an item on your return or submitting an additional form.
- Understand the nuances of each option. For instance, if it relates to an IRS penalty, you could research first-time penalty abatement. However, keep in mind it has specific eligibility criteria and can only be used once every four years.
- Consult with a tax professional to evaluate the best method of action based on your specific situation.
- Correct the Discrepancy
- Respond to the IRS within the specified deadlines mentioned in the notice. Missing deadlines could lead to losing your appeal rights.
- Address any underlying issues comprehensively, especially if there are multiple issues or tax years involved.
- Monitor for any changes in deadlines and ensure you stay in compliance to prevent future issues.
- Keep a record of all communications with the IRS for your reference.
Your H&R Block tax professional can assist in investigating the cause of your notice and communicate with the IRS. Schedule a free consultation with a local tax professional by calling 855-536-6504. For your appointment, remember to bring notices, tax returns, account transcripts, relevant responses to the IRS, and any additional information needed to complete your tax return. This will help your tax professional better understand your situation and provide tailored guidance.