Do You Owe the IRS?
Do These Four Things Now

Stressed about money you owe the IRS? The Tax Bakery experts can help you handle tax stress and resolve what you owe.

Have you received a letter from the IRS?

It’s a fact. Nobody likes to deal with the IRS if they don’t have to. Getting a “love note” in the mail from one of the country’s scariest government agencies is enough to ruin anyone’s day.

If you’ve gotten an IRS notice recently, these four tips will get you through it, and help you figure out what to do next.

1. Don’t panic.

Getting a letter from the IRS fills most taxpayers with an immediate sense of dread. Their thoughts jump to all sorts of questions, and worst-case scenarios:

  • How could this have happened?
  • How much do I owe?
  • What am I going to do? There’s no way I can pay the IRS thousands of dollars.

Don’t let nerves get the best of you. Dealing with the IRS can be stressful, but it’s something you can handle. Take a deep breath, and…

2. Open the IRS letter immediately.

The sooner you look at the issue, the sooner it can be resolved. Read the notice, and find out if you owe, or the IRS is informing you of something else. It might not be as bad as you think.

If you do have a balance with the Internal Revenue Service, what you do next will be extremely important. Most IRS notices are time-sensitive. As soon as you receive it, the clock is ticking. Respond quickly, and you could avoid thousands in additional penalties and interest.

3. Determine if you are required to pay.

When you receive an IRS notice that you owe money there are several things you should check before paying. Check the notice to be sure it’s real. There are scammers who mail out fake notices to take advantage of taxpayers.

Once you’re sure the notice is real, check that all the details are correct. You’ll want to check:

  • Your name is correctly listed
  • The Tax Year in question
  • That the amount listed is directly owed by you (Are you recently divorced? There may be an amount that should be collected from your ex-spouse.)

If you have questions about anything in your letter, you should contact the IRS directly.

4. Get the help of a tax pro.

If you’re dealing with a major tax bill, you probably feel overwhelmed by the prospect of trying to handle it.

Most folks want nothing to do with the IRS. We get that. If you’d rather not go it alone, working with a tax professional can ease the stress.

An Enrolled Agent, CPA, or tax attorney can help you address your tax issue, and get rid of the problem so you can move on with your life.

At the Tax Bakery, you’ll find IRS-credentialed tax experts whose #1 goal is to make filing your taxes simple. Got tax questions? We can help. Schedule an appointment today to get started.

What’s been your biggest challenge when finding a reliable tax person? Share your tips in the comments.

No need to wait!

The Tax Bakery can help you handle your tax returns. The process is simple:

  • Schedule a consult.
  • Upload your documents.
  • We’ll handle the rest.