Tips for Reading IRS Letters for Income Taxes

Part of the Video Series Advice for Your Income Tax Deductions

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Learn what to look for when you receive an IRS letter concerning your income taxes in this free educational video on about understanding your income tax deductions.

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Posted by barbrog on Monday, 17 March, 2008 at 6:28 PM

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Great presentation and will be sure to call my tax professional for help should I ever get such a letter! Thank you

Video Transcript

Tips for Reading IRS Letters for Income Taxes
What about those IRS letters you haven't never received one I'm sure someone in your family has the IRS has a program called CP2000 or they compare the data on there computer record against the data file on your tax return. If they don't match the government will send you letter saying "well our files don't match you just might owe us some taxes" Read them closely cause we found out that the majority of them are not correct cause there not properly proof by the IRS. Many times it's something it's on the return but on the wrong line where you may have sold some stock and there telling you that you didn't pay anything for it at all. So read those letters very carefully there printed on both sides the column on the left usually is what you put on your return with the column on the right being what the IRS has on record. It should be easy to follow remember there on both sides and if you get confused call a tax professional because we can help you, this is what we do, thank you very much.

About the Expert

Expert: Tom Choisnet He has been in self-employed tax practice for over 40 years and he has been an enrolled agent since 1968. He has prepared over 35000 tax returns. Read More