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Posts Tagged ‘irs newsletter tips’

Why You Should Check Out IRS.gov

August 31st, 2010 No comments

IRS.gov features a large amount of information on tax topics and answers to many questions. The IRS recommends checking out their website for information on tax topics. In many cases, you can find the answer to your tax question on the IRS.gov website and this saves you money and time on hiring a CPA.

The IRS website is a convenient way to have access to a wide range of information on tax topics. The IRS notes that there is a wide range of information available on tax related topics, news on the latest tax legislation, access to tax forms and publications, as well as information on tax deductible charities and more.

There are often announcements on various forms of tax relief and tax rebates that are offered by the IRS. Taxpayers may catch incentives or different types of tax relief that may save them thousands of dollars on their taxes. Education on tax topics is important for almost every taxpayer, and the IRS provide quite a bit of information about tax topics on its site for educational purposes.

The IRS sent out 5 reasons to visit its website in a recent newsletter, although there are certainly many more:

Five Reasons to Visit IRS.gov this Summer

Did you know the IRS is making it easier to get answers to your tax questions? The IRS Web site – IRS.gov makes it easy to get an answer to a tax question, anytime during the year. The site is available 24 hours a day 7 days a week. Whether you need a form or have tax questions, IRS.gov has a wealth of information. IRS.gov is accessible all day, every day.

Here are five reasons to visit IRS.gov this summer.

  • Get the latest information on new tax law changes. Several new laws have been enacted and there are provisons that affect almost every taxpayer.
  • Calculate the right amount of withholding allowances on your W-4. The IRS Withholding Calculator will help you ensure that you don’t have too much or too little income tax withheld from your pay.
  • Search for charities. Search Publication 78, Cumulative List of Organizations, to find out if an organization is exempt from federal taxation and, if so, how much of your contributions to that organization are tax deductible.
  • Get information about careers at the IRS. No matter what your professional specialty, the IRS can offer you a variety of full-time career or seasonal job opportunities.
  • Get tax forms and publications. You can view, download and order tax forms and publications any hour of the day or night.

Remember that for the genuine IRS Web site be sure to use .gov. Don’t be confused by internet sites that end in .com, .net, .org or other designations instead of .gov. The address of the official IRS governmental Web site is www.irs.gov.

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What to Do If You Receive an IRS Notice

August 26th, 2010 No comments

The IRS gave out some information and tips on what to do if you receive an IRS notice in their latest newsletter. The IRS sends out notices and letters every year and many of the notices can be dealt with fairly easily. The IRS affirms that many of the notices are for simple reasons like an information request.

The IRS also says that the letters offer specific instructions on how to deal with the notice. The IRS says to not worry or panic if you receive the notice, but to simply respond to the instructions listed in the notice. In some cases, no reply is necessary unless a payment is due. If there is a disagreement with a correction, it must be dealt with as quickly as possible through the method that the IRS lists.

Here is some more information from the IRS on how to respond to notices:

Eight Things to Know If You Receive an IRS Notice

Did you receive a notice from the IRS this year? Every year the IRS sends millions of letters and notices to taxpayers but that doesn’t mean you need to worry. Here are eight things every taxpayer should know about IRS notices – just in case one shows up in your mailbox.

1. Don’t panic. Many of these letters can be dealt with simply and painlessly.
2. There are number of reasons the IRS sends notices to taxpayers. The notice may request payment of taxes, notify you of a change to your account or request additional information. The notice you receive normally covers a very specific issue about your account or tax return.
3. Each letter and notice offers specific instructions on what you need to do to satisfy the inquiry.
4. If you receive a correction notice, you should review the correspondence and compare it with the information on your return.
5. If you agree with the correction to your account, usually no reply is necessary unless a payment is due.
6. If you do not agree with the correction the IRS made, it is important that you respond as requested. Write to explain why you disagree. Include any documents and information you wish the IRS to consider, along with the bottom tear-off portion of the notice. Mail the information to the IRS address shown in the upper left-hand corner of the notice. Allow at least 30 days for a response.
7. Most correspondence can be handled without calling or visiting an IRS office. However, if you have questions, call the telephone number in the upper right-hand corner of the notice. Have a copy of your tax return and the correspondence available when you call, to help us respond to your inquiry.
8. It’s important that you keep copies of any correspondence with your records.

For more information about IRS notices and bills, see Publication 594, The IRS Collection Process. Information about penalties and interest charges is available in Publication 17, Your Federal Income Tax for Individuals. Both publications are available at IRS.gov or by calling 800-TAX-FORM (800-829-3676).

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