Have you ever received a notice from the Internal Revenue Service (IRS) stating that your information doesn’t match their records? If so, don’t panic. While it may be unsettling to receive such a notice, it’s actually quite common. In this article, we’ll be discussing what to do when your information doesn’t match IRS records and how to resolve this issue.
Firstly, it’s essential to understand why the IRS would send this notice. The IRS matches the information on your tax return with the information they receive from third-party sources such as your employer or financial institutions. If there’s a discrepancy, the IRS will send you a notice.
So, what can you do if you receive this notice? Firstly, check the information on your tax return. Ensure that your name, Social Security number, and other details such as your address, income, and deductions are correct. If you find an error, you can file an amended tax return to correct it.
If you believe the notice is incorrect, you can respond to the IRS. You’ll need to gather supporting documents such as your W-2 or 1099 forms and any other relevant information. Write a letter to the IRS explaining why you believe the notice is incorrect and include your supporting documents.
In some cases, you may need to contact the third-party source directly to correct any errors they made. For example, if your employer reported the wrong income details to the IRS, you’ll need to contact your employer and request they correct their records and resubmit the information to the IRS.
It’s essential to act promptly when you receive a notice from the IRS. Ignoring the notice won’t make the problem go away, and it may result in more severe consequences. If you don’t respond, the IRS may assume you’re underreporting your income, leading to further investigation and potential penalties.
In conclusion, if you receive a notice from the IRS stating that your information doesn’t match their records, don’t panic. Check your tax return, gather supporting documents, and respond to the notice promptly. By taking these steps, you’ll be able to resolve the issue swiftly and avoid any further complications.
