100+ Years of Combined Tax Resolution Experience.
Have you received a notice from the IRS informing you that you owe more in taxes? These “30-day letters” can result from an audit, underpaying your taxes when filing a return or many other reasons.
While receiving one of these notices can be unsettling, it doesn’t necessarily mean you have to pay the amount the IRS says you owe. If you believe the agency made an error, you have the right to appeal its decision.
The letter will include instructions on how to file an appeal, which you must do within 30 days of the notice date. You can initiate the process by calling the IRS Independent Office of Appeals or submitting a Collection Appeal Request form.
Although you may have the right to appeal an IRS decision, you’ll need to weigh the pros and cons before moving forward.
Appealing can be advantageous for several reasons:
Potential downsides of appealing include:
Do you need help deciding whether appealing an IRS decision makes sense in your situation? Polston Tax Resolution & Accounting can point you in the right direction. Contact us to request a free consultation today.
We’re in an era in which more small businesses are launching like wildfire. Many people find starting a small business of their own as easy as a piece of cake. However, most of the time, what they fail to prioritize are some of the major players involved in smoothly operating their small business. A...
Do you know why most married taxpayers go for filing joint tax returns? It’s actually because of the benefits that it offers. But with joint tax returns, both the filers hold the responsibility for the tax bill or any penalties and interest that arise from it. Both are legally responsible for the entire liability, even...
What if you owe so much in taxes that you can’t see your way out of it? If you owe back taxes, you might not think there is a way you can ever pay things off. And the more those back taxes have accumulated, the deeper the hole. But that doesn’t mean you can’t dig...
Tax Audits are one of the most terrifying things a taxpayer can endure. Most taxpayers don’t know what being audited by the IRS entails and usually don’t know what to do if they are audited. IRS audits can be confusing to most taxpayers as most don’t know what the IRS is looking for when they...
Receiving a letter from the IRS can be intimidating, especially if you’re unsure what the notice is for or what to do next. Fortunately, many notices are nothing to worry about and are purely informative. Below, we look at everything you need to do — and what not to do — after getting a notice from the...
The Internal Revenue Service (IRS) is increasing audits on cannabis businesses — the agency is on a mission to ensure that cannabis businesses adhere to the tax code. Unfortunately, cannabis companies must comply with more strict tax laws than other businesses and can claim fewer deductions. Most business owners don’t realize this or aren’t able to meet the reporting responsibilities on their own. If you own a business in...