IRS Letter. (1 Viewer)

[AllanN]

I just got a letter in the mail from the IRS notifying me that I messed up on my taxes and im getting a bigger refund. I did't think they corrected mistakes that are not in favor of them. Who Hooo. Just had to share the joy.

 

[Ross Williams]

Same thing happened to my girlfriend. I'm surprised the IRS is so honest.

 

[Howard Williams]

I heard those letters are just to make sure you're still at that same address. One week later, they send over the IRS Audit Task Force: Special Division.

 

[StephenA]

I got a letter saying I owe money from bonds I cashed a couple years ago. They weren't that much, but I still have to pay. Right now I don't have the money to do so, so I don't know what I'm supposed to do. I don't have anything in my name, so they can't take anything. My grandmother was supposed to help me with this, but never brought it to my attention. She just filed the papers away, forggeting about them.

 

[Carl Miller]

Stephen,

Safe thing to do is call them to set up an installment agreement so you don't end up in collective status. They send a bunch of letters. A couple of non-threatening letters that say to pay by whatever date, reminding you that interest and penalties continue to accrue. Then comes a third semi-threatening letter, and then it gets nasty...They send an "intent to levy" letter which pretty much says pay up, or else.

The "or else" part is that they threaten to put a levy on you, and they can as long as they have the information necessary to do so. They can garnish your paycheck if you work for example, and they can do some serious damage to your credit report by slapping a levy on you.

I'm not saying this will happen, but it can, so it's risky to ignore a letter like that. Especially like the one you got, which sounds like an underreporting letter. If the letter you got is a CP2000 letter, that's what it is.

If you find yourself getting a series of "pay up" letters, 5 maybe 6 weeks in between them, it generally means you're heading toward collective status.

Hope this is helpful!