The other night I came home from work and found an envelope addressed to me from the Internal Revenue Service. I could feel my stomach getting tighter and my breathing getting shorter. What did they want?
As it turns out, it was the renewal for my license to practice and to represent taxpayers in front of the IRS as an Enrolled Agent, which is part of what I do here at Foresight every day. But despite the fact that I’ve been doing taxes for close to 30 years, which is frightening for other reasons, and despite knowing that all of my returns were filed and my taxes were paid, I was still taken aback by that white envelope with the distinctive black print.
So what should you do when you receive a letter from the IRS or another taxing authority (and remember – the IRS and state revenue departments will NEVER email you and will rarely call you as a first means of contact)? First, and I can’t emphasize this point enough, open the envelope. Sometimes it really is something very small, like they are asking for clarification on something that was reported on a tax return. But even something small can snowball into something much larger if it gets ignored.
Once you’ve opened the letter, you may have questions about what it means and if there are actions you need to take. That’s where we encourage you to reach out to us, so we can help you interpret what is needed from you, if anything. If something is needed, we can help you determine the best course of action, whether it is something you can easily resolve on your own or if it makes sense for you to engage Foresight to help resolve the matter.
Our staff of CPAs and EAs are highly trained in taxpayer representation and collection matters. We work with taxing authorities every day to resolve taxpayer issues which include installment agreements, audits and Offers in Compromise. We can interpret the sometimes cryptic letters you receive in order to help our clients remain in full compliance with the taxing authorities.
So if you come home to find one of those ominous envelopes waiting for you, after you’ve taken a minute or two to catch your breath, call us at 484-368-3183. We’ll be happy to help.