I recently read an article online that quoted an IRS employee when asked what to do when you receive a notice from the Internal Revenue Service.  Here’s a link.  The first thing he says is that the taxpayer who receives a notice should “not panic.”  I agree.  However, I understand that receiving a letter from the IRS causes a lot of anxiety and worry so here is some advice to help you out if you receive one of those nice letters from the IRS. 

Many of the notices the IRS sends out each year are just information requests to make sure they have the correct contact information for you.  However, most of my clients receive notices that they owe the IRS money, their tax returns have been audited and adjusted, or the IRS has scheduled an audit.

When you receive a notice from the IRS informing you that you owe money, I would recommend that you speak with a qualified tax professional immediately.  Some of these notices are not urgent, but some are.  If you don’t act in time after receiving the important notices you the IRS can garnish your wages or freeze your bank account.  Nobody wants that!