IRS Intends to “Touch” More Taxpayers.
Essex & Associates::www.essexinc.biz July 26, 2011
Greetings!
The IRS has disclosed its intention to "touch" 10% of tax-payers in 2011. What that means is that more people will be receiving notices and letters from the federal and even state taxing authorities. Our firm is already seeing an increase in the number of clients receiving IRS correspondence.
If you receive any notices at all, especially, notices of insufficiency or of payments due, contact a tax professional and fax or email a copy to your advisor to authenticate the accuracy of the claim before making any unscheduled payments.
Keep in mind that in most cases, any tax due stated in the first IRS or State letter is a proposed tax, as opposed to an assessed tax. Therefore, the due date indicated is normally the date used to accrue additional penalties and interest, if the letter is accurate. The government accounting office estimates that 60% of these initial letters are incorrect.
We reiterate; it is in your best interest to investigate these alleged payment due notices carefully. Remember also that legitimate taxing authorities do not communicate via email for information or any other purpose. Those email notices and pleas are always a scam.
Wishing you many happy returns,
Wayne
Wayne T. Essex Ph.D.
Essex & Associates
Tax, Accounting, HR, Payroll
7501 Paragon Road
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