Understanding IRS Notices/List of Common IRS Notices

Sep 5, 2024

2 min read

If you’ve recently received a notice from the IRS, you’re not alone. Millions of taxpayers receive notices each year for various reasons. The key to handling an IRS notice is to stay calm, understand the notice’s purpose, and take appropriate action. Here's what you need to know.

Call Turner Business Solutions at (316) 285-0125 if you received an IRS notice. You can also schedule a free consultation online.

Why Did I Receive an IRS Notice?

The IRS sends out notices for many reasons, including:

Clarification of your tax return: Sometimes the IRS has questions about information on your return or needs more details to process it correctly.
Payment reminders: If you owe back taxes or penalties, you might receive a notice reminding you of the balance due.
Audit notification: The IRS may select your return for an audit to verify the accuracy of your reported income, deductions, or credits.
Adjustments to your return: If the IRS made a change to your tax return (such as correcting a math error), they’ll notify you in writing.

What Should You Do First?

Don’t Panic: Most IRS notices are routine, and many can be resolved without stress.
Read the Notice Carefully: The IRS clearly states the reason for the notice, whether it’s informational or requires action on your part.
Verify the Information: Check your records and compare them to what the IRS is saying. If you agree with their assessment, follow the instructions for paying any balance or providing additional information.
Respond by the Deadline: Many IRS notices require a response within a certain time frame. Ignoring a notice can lead to penalties, interest, or further action.
Contact the IRS If Needed: If you don’t understand the notice or need further assistance, contact the IRS using the phone number listed on the notice. You may also want to consult with a tax professional.

Call Turner Business Solutions at (316) 285-0125 if you received a concerning IRS notice and need assistance. You can also schedule a free consultation online.