Any CPAs or Tax Guys here?

[Shadowfax]

Half a year ago I got a letter from IRS stating that there was a problem with my last return and to resubmit everything. We wrote back asking exactly what they needed and never heard back.

The other day I get a letter saying they corrected my mistakes and I was about to get a huge refund unless I did not agree. The lines on the 1040 where they said I had $0.00 was not correct.

What is the best way to handle this situation? If I get and cash the check, they will eventually figure out their mistake and then come after me for interest and penalties when it is their mistake.

 

[Mike]

Get a proper, reputable CPA firm and let them handle it. I have zero patience for this stuff. Pay the bean counters and let them deal with it. Money well spent.

 

[Mr Peabody]

You can respond to the letter or try calling in. Depending on whether the return is processed already a rep on the phone may be able to input the adjustment. If the return is not processed you may have to respond to the notice. Sometimes a rep can do what called a referral, a form that tells the service center what's going on. Unfortunately everything depends on the state of the return and where it's at in the system.

 

[Mr Peabody]

If you should happen to receive the check and it's wrong. Write "void" on the back of the check do not mess up the front. Send the check back with a letter of explanation.

Actually this is one instance a CPA can't help you. You're basically paying someone to do what you can do yourself. What was the notice# you received? It may let me know where your return is and which area sent the letter.