Uh Oh...Got an IRS Letter? Here's What to Do

Рет қаралды 75,848

Күн бұрын

Everyone hates to get an IRS Letter... It feels like literally everyone. However, after the annoyance is over you start to worry about what to do next. Well in this video, I want to break down exactly what to do if you receive an IRS Letter in 2021.
Become a Tax Client: mycpacoach.com/tax-planning-s...
I'm talking about IRS letters. They're just plain scary.
But not all letters are bad. In fact, most aren't.
However, I'm not going to lie, some are pretty bad too.
No worries. This video addresses the good, bad, and ugly when it comes to IRS letters.
AND if you stay tuned until the end, I'll give you the #1 best thing you can do to reduce your chances of getting an IRS letter ever again.
Watch to learn more.
Intro: (0:00)
Types of Letters: (1:24)
What you should do: (2:37)
Letter type #1: (3:34)
Letter type #2: (3:57)
Letter type #3: (4:52)
Tip #1: (5:55)
Tip #2: (6:45)
Warning: (7:10)
The scariest one of them all: (7:32)
How to avoid IRS letters: (8:43)
Suggested video to watch next: "Tax Evasion: Don't Get Caught Cheating the IRS" • Tax Evasion: Don't Get...
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Interested in talking with someone from our team? Sign up to get notified when we are accepting new clients here: lyfeaccounting.com/coming-soon/
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Disclaimer: The information provided in this video is for entertainment purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

Пікірлер: 145

@LYFEAccounting 2 жыл бұрын

Suggested video to watch next: "Tax Evasion: Don't Get Caught Cheating the IRS" kzfaq.info/get/bejne/g9mBptip2Z3clI0.html

@lifespacextimexbodyxchaos4595 2 жыл бұрын

Irs cheats us first... they know and i 2. Loss funds should be giving out In Penny's too us all but and Many Unaccounted $$$$$$$$$$$$$$$$$$$$

@redjeb5833 2 жыл бұрын

They send letters, but won't answer their phones. All those lazy IRS workers working from. Home aren't working like they should. Need to get them back in the office.

@ttwofeathers Жыл бұрын

Yup on Hold for an hour today

@JohnSmith-cx3zw Жыл бұрын

Istg lazy sos’s

@minaso81307 Жыл бұрын

Really?? The Feds have NEVER answered the phone. Has nothing to do with them working from home Einstein

@brooklyn7722 2 жыл бұрын

Excellent video !!! Got a letter from IRS for the first time my life but I ignored it because I thought it was a scam. A month later I received another letter, so I called them to resolve the issue at hand. Everything worked out perfectly I didn't owe any money. Very pleasant person I spoke to on the phone and very helpful.

@RobertLofrano 2 жыл бұрын

Congratulations for getting through to them. I have no luck with that

@cadeeb 2 жыл бұрын

Very good informative video. It described how to respond a communication received from the IRS. It would be great if you can create another video in details which shall described each scenarios in details on how to respond the communication through right documentations and channel of communication.

@NjoyLife_01 2 жыл бұрын

Great presentation; Tax laws, rules, and policies can be quite complicated. The best advice I got from your video is, COMMUNICATION with the agency. Doesn’t matter what one may receive from the IRS- as long as the tax payer make an honest effort to COMMUNICATE and act upon their request. Thx!

@LYFEAccounting 2 жыл бұрын

You got it! Thanks for watching.

@PaulTheadra 3 жыл бұрын

Love the channel, great video

@LYFEAccounting 3 жыл бұрын

Hey Paul, thank you! And thank you twice for sharing your story. Audits are definitely a drag but glad you got through it!

@pkicng210 2 жыл бұрын

You are very, very correct. In my case, I had a client who went to a seminar as part of her PhD ( Linguistics) to go to Korea and spoke to a seminar. She spent cash while in South Korea, meals were in cash, hotels were in credit cards. plane fare were on credit cards. The IRS audited my client. We are in CA and the correspondence audit came from Philadelphia. She responded via certified mail (the IRS address drove the USPS nuts due no P O Box or street address). My client sent them the letter from her employer, a Federal gov't agency, a letter of reimbursement policy. We cited the IRC 274 d and since she is accounting for her tenure and as a professor, the expenses are allowed under IRC 162. We argued for the Cohan Rule. The auditor rejected stating that if the expenses to be allowable even though her credit card statement and the syllabus from the seminar is not enough. She would not pay me to complete the form to petition Tax Court. An addendum: The IRS did not even allowed the per diem Misc & Incidentals expense standard for Federal employees. Then it begs the question who benefits from those from those Federal MI& E expenses; clearly my client even though she is Korean lived far from her parents home.

@kova1577 2 жыл бұрын

Irs are greedy people

@PoorMansInvesting 2 жыл бұрын

Wow that sucks, I haven't filed in 15 years and haven't heard a peep. I've made 6 figures in crypto. "Doing the right thing" isn't right if criminals are telling you it's righ

@summertimerecordsllc6910 2 ай бұрын

Very helpful. Beautiful CPA.

@shelbyhurst370 3 жыл бұрын

Thank you for sharing this information

@LYFEAccounting 3 жыл бұрын

Glad it was helpful!

@KeranSmith 3 жыл бұрын

Great information!!

@LYFEAccounting 3 жыл бұрын

Thanks for watching!

@carlpeterson8182 2 жыл бұрын

Good video. It is not always best to pay the tax due if you receive that type of IRS letter. The IRS can be wrong. You can show the IRS why they are wrong either by responding by letter (usual) or by phone. the IRS gets some items wrong every year. Late fees is an item that the IRS often gets wrong. Sending a copy of an extension and proof of filing (date) can make it so you do not have to pay the additional late fees.

@jerrywaynecalloway 2 ай бұрын

Very informative and helpful video. I like the video too. You just earned a new subscriber.

@fjmi 3 жыл бұрын

Excellent Information

@LYFEAccounting 3 жыл бұрын

Glad it was helpful!

@normagarcia8197 2 жыл бұрын

Thank you 🙏

@charlesmichaelschmitt6412 2 жыл бұрын

I would love a letter, the IRS refuses to Communicate.

@findit6333 2 жыл бұрын

I am getting the run around from the IRS right now. Everyday it is the same thing- their call center will not accept calls and my time is running out to respond to them. All I need to do is speak to someone and tell them who I am , due to a simple address change...; One wonders if this is on purpose. They have been holding my refund hostage for almost 3 months...they owe me money. Covid restrictions are still killing everything. Need that money.

@salmahugo6286 2 жыл бұрын

Why not sending notifications before reduce tax refund

@salmahugo6286 2 жыл бұрын

Disagree for reduce tax refund

@AD-qf7re 3 жыл бұрын

I really appreciate the fact that you go out of your way to help us out you deserve your flowers ⚘⚘⚘⚘⚘⚘⚘

@LYFEAccounting 3 жыл бұрын

Aw thank you! I hope you consider subscribing :)

@AD-qf7re 3 жыл бұрын

@@LYFEAccounting yes I am a government contractor and I am getting pua money its been a lot going on and I'm watching your videos have helped me it's a lot more I need help with but your amazing

@JohnAdams-mu7xd 2 жыл бұрын

IRS's Income Tax is only for Citizens of Washington DC its embarrassing that Americans don't understand this and continue to GIFT the IRS through a Class 5 Gift & Estate Tax.....

@markmyjak7739 2 жыл бұрын

Very informative. Good job. Your a women who is prepared for doing taxes.

@LYFEAccounting 2 жыл бұрын

Glad it was helpful and thank you for the kind words!

@kimthuctran6579 2 жыл бұрын

Thank you so much

@annmbrooks9621 2 жыл бұрын

I did, still waiting!

@DanSchallerforPOTUS 2 жыл бұрын

The information that you stated would be at the top of the letter is not there (except a telephone number where the last 4 digits don't match what is on the site).

@KOKOFINANZAS 3 жыл бұрын

🤣😂 Well I have a rule I don’t open certain letters as I get it for example letters from the IRS or bills I open those Friday night 🤣😂🤷🏻‍♀️🤷🏼‍♂️ I won’t let anybody pressure me or keep me out of focus during my work week in that way I stay sharp and productive 🥇🏆❤️

@LYFEAccounting 3 жыл бұрын

hahaha, the classic head in the sand strategy

@KOKOFINANZAS 3 жыл бұрын

@@LYFEAccounting It might look that way 👽 I don’t ignore or run 🏃💨 away from my RESPONSIBILITIES i just handle things strategically to my advantage 🤣😂🔥🤷🏻‍♀️🤷🏼‍♂️ Darling am waiting for the IRS deductibles video you promised 💕 you look pretty Pretty on camera 😄😁 You lucky I filled my taxes for Free 🤣😂🤦🏼‍♂️🤦🏻‍♀️❤️👩🏻‍💻👨🏼‍💻

@elizabethmiles6312 2 жыл бұрын

If they sent you a letter and it says we have Misplaced your information? What you do then just go back to tax place and have them resend it

@RobertLofrano 2 жыл бұрын

I was waiting for my tax refund. It was taking longer than expected so I went to the IRS website to find out why, only to find out that they changed my return for a $618 refund to $782 that I now owe. when checking I found out that a notice was mailed to me dated March 14th it is now March 22nd and I still have not received it. It is impossible to reach a real person when you call them. What should I do?

@stangedude5646 2 жыл бұрын

They are required to send a letter before freezing assetts. I know because I got one of those letter and the IRS Agent told me that was to get my attention. And it worked.

@ltrax34 2 жыл бұрын

I'm gonna open mines because they still owe me starting in 2019

@LuizRicardoFotografia 2 жыл бұрын

I got one of these, but I live in Brazil, I didn’t understand why

@HopAlongKris 2 жыл бұрын

Don't their envelopes always have the IRS logo?

@valexander8891 Жыл бұрын

I have adopted kids. They requested proof that they are my kids. I sent it all, then they tell me they will review Aug 5th which has come and gone. This held up my child tax credit, EIC, everything. I filed the day Electronic Filing opened up. This is substantially longer than 45 days. This is absolutely crazy! What do you do when they say your kids aren't yours, you prove they are. Is this even for real???

@Redmeatsteak Жыл бұрын

Good morning.Lyfe Accounting I just Subscribe your channel.I have a question.Why do IRS send a letter to us if we don't owe them how would I respond.I never owe IRS this my first time receiving a letter not sure if it's Scammed.Please let me know.Thanks.

@sandypavey3954 Жыл бұрын

I am getting audited and H & R block did my taxes and they made the mistake but they are not taking care of it like they should !

@LaDeeDah 2 жыл бұрын

Can you do the new IRS letters going out about the stimulus and the RRC?

@KILO.5 2 жыл бұрын

Yes! Please . Kind of I’m not the only one…

@loveandlight_ 2 жыл бұрын

Exactly

@marios.sanchez Жыл бұрын

I am still waiting for my tax return(filed in later Jan 2022. I would love to get a letter from the IRS telling me when it is coming💸🙁

@BigOsGarage6 Жыл бұрын

I filled e-file Feb 10, 2023. They sent me a letter about 2 weeks ago to verify my identity. Hoe much more time..???

@lz9672 2 жыл бұрын

i received letters from IRS with someone else's SSN on it. I called them and confirmed that I DO NOT owe them a single penny under my SSN or Identity. They just kept sending letters without fixing the wrong information on their end.

@kova1577 2 жыл бұрын

Money hungry people is all they are.

@lifespacextimexbodyxchaos4595 2 жыл бұрын

I got a letter from the irs but headletter The White House... And irs still too busy for me 🥺.

@BeStrong8 Жыл бұрын

I received letter that i need to pay more than 6000. Received 1 month after they send it and I had 1 month to resolve instead of 2 month. I live in different state. Seems someone use my name because i received breach alert someone wanted to buy car. I don't have job this year.

@rebeccagarrett7141 3 жыл бұрын

Mine always sends me my corrected I'm Disabled

@wendythibodeaux8268 2 жыл бұрын

What about letter 6470

@diondion2020 3 жыл бұрын

Question, when you speak about S Corp and paying yourself a salary. Would you use a payroll company to do such so they can pull the taxes from it? And when you speak about the 15.3% for medicaid and social security. Is that additional or part of? So if I made $100k my federal tax bracket would be 24% and my state would be 4.25%.

@LYFEAccounting 3 жыл бұрын

Using a payroll company is easier and saves you time, but not required. Many people run payroll themselves

@diondion2020 3 жыл бұрын

@@LYFEAccounting okay so if you don’t then at end of year you have to pay business taxes and personal taxes correct? Or no

@pkicng210 2 жыл бұрын

Well, you can go to the website and go to EFTPS or EFTPS.gov, then enroll. You will need you EIN and your Sub S bank account number and routing number. For witholding you go to circular E and if your witholding is unusual, don't forget to review on Pub 15 or circular E, the "look back period" for timely depositing your taxes. Even if you have a payroll service, my advice, give the correct information 2 days at least before the payroll service"cuts the checks" to your employees or make the deposit timely manner. But before you plug in the number, complete a Form 941 which you will be filing electronically through Lacerte or Drake, etc. Usually where you bank can set up a payroll for a fee. ADP, the 3rd party agent will do the rest: File the 941, 940. If in CA the EDD Form DE's or other state forms if you are paying employees from another state. You are lucky to be in a state that has a tax rate of 4.25%; in CA the tax rate is 13% and it is supposed to go up to 16% due to the 54 BILLION deficit.

@ericamiles8962 2 жыл бұрын

I received my letter from them stating that my taxes are being processed so I don't know what is going on with them but they supposed to be straight forward with us

@obliteratex8966 Жыл бұрын

How long it took for u to get a letter ?

@salmahugo6286 2 жыл бұрын

Did not get lrs letter for reduce tax

@chinweaniche-hall3895 2 жыл бұрын

My husband and I received a letter saying that we make a whole lot more than we both do combined. I feel they got our names mixed up. Been trying to call but they don't answer, just a voicemail.

@dr.phillips2008 2 жыл бұрын

Yea I am having the same issue

@sharonphillips5050 2 жыл бұрын

When i had problems with IRS, i wrote back with reference # and do my letter with attachments and certified with tracking number. Keep track of your letters and dates. That way, you can provide evidence behind your letters.

@ginojones5857 2 жыл бұрын

Wipe your ass with it and mail it back to them.

@chriss4365 2 жыл бұрын

In that case id get a tax attorney.

@kova1577 2 жыл бұрын

They should honestly mind their damn business. Most greedy government organisation in existence

@joeygee11 2 жыл бұрын

I got one once. Luckily it was for a few hundred bucks. I knew there was no error. I just paid it. I do not need to waste my time arguing with the FEDS.

@theloversmicheal8021 2 жыл бұрын

do u work for the IRS?

@randyk7699 2 жыл бұрын

I just got one! This is all BS from the IRS

@MsLadyBluesWorld 2 жыл бұрын

I did to. I called and they said a lot of those letters are sent out by mistake.

@kova1577 2 жыл бұрын

@@MsLadyBluesWorld from a corrupt federal organisation they need some professionalism to their racketeering

@LadyLovedByGod 2 жыл бұрын

I have USPS app showing I have a letter coming today. Funny how 2 weeks ago irs told me over the phone said I will see something on my bank statement. Now this shit... Mine better be more money added lol

@kova1577 2 жыл бұрын

The international racketeering service giving you your money back? That’s comical

@davantewatson915 3 жыл бұрын

Hey can you help me with my situation I've been waiting on a letter that was suppose to be sent may 3. It's been over a month since I was able to speak with a rep.

@lentaxco 2 жыл бұрын

We can help you. Let us know.

@RobertLofrano 2 жыл бұрын

@@lentaxco I have the same problem , I was waiting for my refund and it was taking longer than expected. I went to the site to check on it only to find out that they have made changes to my return, according to them they have mailed me a letter sent out 3/14/22 it is now 3/22/22 and still no letter, how long am I supposed to wait for it. What do I do if it never arrives. I keep trying and it is impossible to talk to anyone.

@markmyjak7739 2 жыл бұрын

I used to be part of it but I educated myself in taxes. I find most Americans ask these 3 questions at tax time: where do I sign, how much and when. I go in prepared for my taxes. I already know how we made and how much was paid. I'm happy when we get a small refund. It tells I got to keep alot of money. If we do get refund, we don't plan anything with it. We treat as win fall money. In 2016 I learned about student loans regarding filing taxes. We had our tax refund confiscated to pay my wife's student loan. I don't have one. I discovered the injured spouse form to file. Because I'm entitled to my share of the refund. Last year I learned about foriegn tax credits. I'm always getting a learning experience. Now I'm trying to learn how to use the IRS tax code as a tool.

@Meantoy 3 жыл бұрын

Ok i got letter 4883c and finaly got thru on the phone with them on 6/4/21, guy on the phone told me i was done and everything was good on my end. well yesterday 6/13/21 i get a letter 5071c which basically is the same as the 4883c, what am i supposed to do?!? hell i had to burn thru all my prepaid mins on my phone at the first of the month for the first letter, i cant afford to buy anymore phone mins till the end of the month.

@cerenaygun6485 3 жыл бұрын

How did you get through the phone call?? mine keeps getting not answered...

@Meantoy 3 жыл бұрын

@@cerenaygun6485 kept calling over and over repeatedly for 2 weeks straight. Call, put on speaker phone, press the buttons the recording asks for, get told too many people are calling in, get rudely hung up on. Call back and try try again...... I actually did this repeatedly for 2 weeks mon-fri from 8am to 8pm non stop. I really think i lost some of my sanity to that ordeal...... Just have patience you will eventually get thru. Good Luck :)

@anymoussas1783 Жыл бұрын

Hey what did they ask you on the phone ?

@startboy6586 Жыл бұрын

I recieved an IRS letter for tax return. Even though I did not requested. I got a mail in my address. They said I filed a tax return.

@ricky3019 3 ай бұрын

The irs where’s my refund doesn’t work properly and update

@angelamcghee910 Жыл бұрын

Hello, the letter doesn't ask for money. Just ask for and explanation of schedule c. There is no money owed. They are not asking for money. If they was that would be simple.This is the state taxes not IRS that has become really harder.

@SassySavingSistah 3 жыл бұрын

❤❤

@LYFEAccounting 3 жыл бұрын

😊

@janetboston5031 2 жыл бұрын

I'm not a financial counselor.....but what I do is .. Use it to swat pesty flies Use it for scrap paper to write my girlfriend new phone number on Or simply line the kitty liter box....lol

@rob7039 2 жыл бұрын

They not answering the phone

@sharonphillips5050 2 жыл бұрын

You won't get through. The phone # is just a fluff to the cake. They don't expect you call back, unless they have specific time and dates to talked to you.

@spearwinin192 2 жыл бұрын

They have to send it bank no if scam

@lisawess6448 Жыл бұрын

I got one. It took me and my tax person over an hour to fix this.

@drb5003 2 жыл бұрын

IRS will not call you

@mtigress4589 2 жыл бұрын

MOST of the time. Revenue Agents and Revenue Officers still might. Generally a letter shows up first but not always.

@datnight5046 2 жыл бұрын

let's say I got a email from IRS to pay taxes to withdraw my crypto currency is it a scam

@travisg4659 2 жыл бұрын

If you're unemployed or make less than 35k a year, and can't pay, just ignore it as spam. Seriously.

@mtigress4589 2 жыл бұрын

That's terrible advice. If you owe call and tell them to put you in a do not collect status due to hardship. Just ignoring letters will cause a lien to be placed on you and your credit screwed.

@travisg4659 2 жыл бұрын

@@luckyandersone6185 sounds like a scam. International IRS scam makes millions and millions of dollars, and your comment, just hints of a scam. The IRS wouldn't call it cash hack if they had the program, it would be hardship reimbursement, etc.

@LilPower Жыл бұрын

😍😍😍

@jamaicanqueen6580 2 жыл бұрын

😆

@eclipsedeucy1144 2 жыл бұрын

If you receive an IRS letter simply call them on the phone.

@RobertLofrano 2 жыл бұрын

Guess again Impossible to reach a real person

@mattgiunt Жыл бұрын

@@RobertLofrano been trying all hours of day and night. They do not let you talk to a person.Its disgusting

@aldoogie824 2 жыл бұрын

This is going to become a very common theme after the $600 initiative is in play.

@Vibezz92 2 жыл бұрын

They answered for me I called 8 times in a row and I got through guys

@Hhopiuygv 2 жыл бұрын

How

@4UStevePerry Жыл бұрын

My 23 yo daughter got one. She has never filed before because she didn't make enough. That's what the accountant said.

@4UStevePerry Жыл бұрын

They want her to verify who she is!

@richardwoods2543 3 жыл бұрын

@LYFEAccounting 3 жыл бұрын

@mb6055 2 жыл бұрын

NO A

@heathererickson3844 14 күн бұрын

We don’t even owe as we are private citizens of the z50 states and are NOT residents of District of Columbia. ALLLL. BS

@sheilaplater4118 3 жыл бұрын

One word Delta

@LYFEAccounting 3 жыл бұрын

Delta?

@kova1577 2 жыл бұрын

English please

@tobidaniels3930 3 жыл бұрын

Ok. So I got a letter from the IRS saying I need to verify my identity before my first and second stimulus money will be put on my card but I can't do it on line because when I filled out on line it say info is incorrect, witch I know its not but it wont let me go on any further. I have been trying to reach someone over the phone now for about 3 to 3 and a half weeks to verify my identity and I cant reach anyone that way either. Idk how else to do it. The letter said I have 30 days to do it before there 30 day dead line but I can't reach anyone. Is there any outher way I can do it? Does anyone have any ideas of how to help me reach the IRS ? I would appreciate it if someone could guid me in the right directions.

@marinaalvarado6265 2 жыл бұрын

This is happening to me and I don’t k ow what to do either

@tobidaniels3930 2 жыл бұрын

I had to call the IRS near me in Columbus oh and make appointment to go into the IRS office to varifie my identity. When I got there I was given a number to wait and like 3 to 4 min they called me back. I was only in the back dealing with the guy and it only took me lile 3 mins and it was all done. Now I'm,just waiting for my money to hit my card. The guy said it could take as long as 9 weeks but he said its not going to really take that Kong but they have to just tell people that. He said I see your money should hit your card in a week or 2. It's only been 9 days as of today. This is the. 8-6-2021 so just wanted to write this info and hope it might help anyone else in need or might be going through the same thing as I did. Hope it works out for everyone and I pray we ALL GET this 4th stimulus check. In,Jesus name I pray. AMEN!