Have you received an IRS Collection Letter?
By Lisel Sutter, EA, Tax & Financial Services
(Sutter Tax, Financial & Insurance Services Inc.)
When a taxpayer receives a collection notice from the IRS, they often panic and don'tknow where to turn for a solution. Some taxpayers choose to bury their heads in the sandand hope that the problem will magically disappear. Others assume that they are going tojail, and are scared to respond. In most circumstances, neither does it go away nor does thetaxpayer go to jail. It is important for the Taxpayer to meet the situation head on by taking the following steps: 1) File a Tax return for the year(s) in question . The returns will either be filed by theTaxpayer or by the IRS themselves. When filed by the IRS, any deductions that thetaxpayer may be entitled to are not taken into consideration resulting in the highest taxamount possibly being due. 2) Once returns have been filed, the tax a...
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