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IRS Notice of Deficiency or State Notice? Get Help Now.

irs notice of deficiencyAn IRS Notice of Deficiency or State Notice should explain the reason for its issuance and provide instructions for responding. Many taxpayers make the mistake of either disregarding these notices entirely or failing to read them carefully enough to determine whether an additional tax amount is being assessed. In some cases, a taxpayer does not respond to a notice that indicates an outstanding tax liability simply because they are unable to pay the balance due.

Not responding to an IRS Notice of Deficiency or State Collection Notice is always the worst possible course of action. If a tax agency does not receive a timely response after issuing an official Tax Notice, they will take action to collect the outstanding debt.  During this time, penalties and interest will continue to accrue on the unpaid balance. Failure to resolve an outstanding tax debt can result in a variety of collection efforts including wage garnishments, tax liens and tax levies.

The CPAs at Professional Tax Resolution will work with you to resolve tax debt issues by correcting incomplete or incorrect tax filings or by evaluating and negotiating various payment or settlement options . Settlement options may include Installment Agreements, Offers in Compromise or Penalty and Interest Waivers.

In some cases, the IRS may declare a taxpayer “currently not collectible” after they have received documentation that the person has no ability to pay the tax debt. Once this determination has been made, all collection activities including levies and garnishments must be stopped. In cases like this, the help of a qualified Certified Public Accountant to evaluate the possible options is well worth the investment.

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