Why are you receiving this letter?
The IRS has requested documentation/information and for whatever reason, has not received it. The Summons is the last and most formal request for documentation/ information.
What you should do?
Read your Summons carefully. You may receive a copy of a Summons, but it may not necessarily be for you to execute. For example, the IRS has the authority to issue a Summons to your bank. The bank will be obligated to comply with the Summons.
Our recommendation, call a tax professional to discuss the options available to you.
Why should you hire a tax professional?
The tax professional will appropriately address the Summons and work directly with the IRS on your behalf. Without the proper knowledge of your rights as a taxpayer and the laws and procedures, you may lose affordable IRS compromises, payment plans, and lesser tax penalties. This makes a professional better able negotiate with IRS Revenue Officers.
Hiring a professional tax resolution firm will give you peace of mind and allow you to sleep soundly, knowing that you are not taking unnecessary risks with your personal or financial freedom.
What can you expect to happen next?
The IRS will demand the information being requested. Failure to comply with the Summons will result in the IRS taking legal action against you.
Summons sent to 3rd parties will be responded to in 30 days. For example, a Summons was sent to your bank. The bank will provide the IRS with all information available for the period in question. This may include bank statements, copies of deposit slips, bank signature cards, and loan applications.
Don’t face your tax problems alone, tax Resolutions cases, can be extremely complex, and a licensed tax professional, can help you find the most appropriate solution to your tax problem.
Call Alana Tax group, and we will immediately protect you from the IRS and take over all communication.