What to do if the IRS Thinks You Owe Them Money!

Can you imagine such nonsense? What’s up with this? OK – so maybe the IRS is right. What do you do?

A number of options may apply to you and you may want to use all of them to end your IRS problems.

The key is understanding where the IRS is coming from and what you can do about it to help yourself. Many of the options presented are discussed in more detail later in Mary’s book (Resolve IRS Problems! Learn the Secrets of Solving Your IRS Problem !).

Once you have received your transcript, you’ll know why the IRS is requesting money from you. Now, you’ll need to determine if the information in the transcript is correct or not.

For example, let’s say your IRS transcript shows that you never filed your 2001 and 2002 tax returns. You know that you did file and paid both years in full. Your solution may be nothing more than writing the IRS a letter explaining your side of the story.

However, if you did NOT file your 2001 and 2002 tax returns and the IRS filed them for you, your IRS record will be noted with “SFR”, which means Substitute for Return.

Whenever the IRS files a tax return for you, rest assured they do it because they feel you owe them money. The problem with this situation is that the IRS often uses an incorrect filing status, and/or they fail to include deductions or exemptions when they prepare your tax returns for you. How nice!

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