Did you just get a communication from the IRS? Here’s the information you absolutely have to know right now:
- Don’t ignore it. The IRS doesn’t just go away.
- Sometimes the notice is about something minor, like a mixed up Social Security Number, but if it’s not . . .
- If you can, hire an awesome CPA. If you already have one, contact them immediately.
- Act as soon as you reasonably can, to avoid problems becoming worse over time.
- Make a copy of the IRS notice. Keep one with your taxes, give the other to your tax preparer/CPA.
- If the IRS is requesting a large amount of money or information, start to gather your paperwork now. The more information you have, the better.
Again, to reiterate, open any envelope from the IRS and read what it says right away. It’s important to know what they need, because the IRS won’t forget about you, and there are penalties for not responding.