Imagine this you just opened your mail box and found an IRS Notice of Deficiency Letter, now start to shake and sweat- you knew this day was coming. That IRS letter in your mailbox is trouble. But now you just don’t know what to do. We can help we work with the IRS everyday of the week.
Question. What do I do if I receive a Notice of Deficiency from the IRS?
Answer. You will get this letter if you owe additional tax or other amounts for the tax year(s) listed in the letter. The letter explains how to dispute the adjustments if you do not agree. If you want to dispute the adjustments without payment, you will have 90 days from the notice date to file a petition with the Tax Court.
The worst thing that you can do is to put that letter in a drawer because you don’t have the money or you are just afraid of the IRS. Sometimes those letters have incorrect information about 10% of the time, the IRS by its own estimation makes mistakes and assesse taxes against people who really don’t owe them. But you MUST respond in a timely manner, because if you do not, the case slowly makes it the IRS Enforced Collection Agents. People that you never want to meet, they can ruin your life.
If the letter turns out to be correct, we can help you make the best deal with the IRS. This might be a reasonable installment agreement, an Offer in Compromise that makes the taxes go away completely. or if you are broke and having a hard time just meeting expenses, there is a procedure where the IRS can declare your account as “currently not collectible.” There it still gains interest and penalty but you don’t have to worry about it for 2 years. Why worry? You don’t have the money to pay the taxes anyway.
We take the worry off your shoulders. The IRS cannot talk to you once you have retained our firm. We have had great results in saving our clients hundreds of thousands of dollars since we started in 2014.
If would like more information on how to appeal an IRS audit, you can Enrolled Agent Richard Schickel with RMS Tax Consulting LLC at 520-668-3243 for your free consultation.