If you’ve received a notice from the IRS or another taxing agency like the EDD or the Franchise Tax Board, you know the panic these instill. They might contain foreboding information with complex tax verbiage. And it’s way easier just to ignore it along with other meaningless mailed notifications. So you might as well forget about it, right? No!
When you get a notice from the IRS, your best response is not to panic and address your problem promptly. Get it to your tax professional or payroll provider (because sometimes it applies to payroll.) Simply confront the problem quickly and whatever you do, do not procrastinate or ignore it!
The good news here is that most of the time, when you get an IRS notification, it is informational and can be handled relatively quickly. It is most likely not a lien, or a levy, or an audit. And it is in your best interest to remain calm, act quickly, and work with your accountant to solve the issue at hand. If you require tax help or even, bookkeeping or payroll services, we at Prospect Financial are here for you. Do not hesitate to reach out for our professional accounting services!
