Owing money to the IRS can be one of the most stressful financial situations a taxpayer can face. A tax bill may result from an unexpected tax liability, an audit adjustment, self-employment income, penalties, investment income, or simply not having enough money available when taxes are due. The good news is that having an IRS … Read more
Receiving an IRS audit notice can be unsettling. Many taxpayers immediately assume that an audit means they are accused of cheating on their taxes or that they are going to face a large financial penalty. In reality, an IRS audit is generally an examination of information reported on a tax return to determine whether the … Read more
Receiving a letter from the Internal Revenue Service can be stressful, especially when the notice says you owe money, your tax return has been changed, or additional information is required. However, an IRS notice does not automatically mean that you have done something wrong or that you must immediately pay the amount stated. Federal tax … Read more