Wednesday, 19 November 2014 11:59

If you hear from the IRS

There it is, sitting in your mailbox, the unexpected envelope from the IRS. For many people it's a moment of dread.

Don't panic and don't ignore it. Receiving a letter doesn't mean the IRS will be beating down your door tomorrow. It means they have a question with your return, or are wondering why you haven't filed. Millions of these letters are sent out every year. To be fair, often times it is a request for more money. But not always; once in a while people get notices saying they will be issued a larger refund than expected. Whatever it says, don't burn it and hope it will go away. If no timely response is received, the IRS assumes you agree with their correction and begins making plans to collect it from future refunds or other sources.

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