Meridian Star

Business

May 11, 2014

How not to become pen pals with the IRS

MERIDIAN — Getting a letter or notice from the IRS can be upsetting, confusing, and unnecessary. The IRS sends taxpayers notices to request payment for taxes, to notify them of a change to their account, or to request additional information. Attention to the following details will reduce the likelihood that you will become pen pals with the IRS.

    · Never send a payment to the IRS without designating what it is for. Otherwise the IRS may apply it in any manner they want. Every payment should include your name, your taxpayer identification number, the type of tax you are paying, and the period the tax payment is for.

    · Make sure the name and social security number on your tax return agree with the Social Security Administration’s records. If you change your surname, notify the Social Security Administration and request a new social security card.

    · Don’t claim a tax exemption for your child unless you are entitled to do so. Special rules apply to divorced parents. If both parents claim the child as a dependent, both returns will be subject to further IRS review.

    · Respond promptly to any notice you receive from the IRS, even if you think the notice is incorrect. If the IRS doesn’t hear from you within the time specified on their notice, you may lose the right to protest any changes made to your return.

    · Send a change of address form (Form 8822) to the IRS when your address changes. If you fail to provide the IRS with your current mailing address, you may not receive a refund check or a notice if there are problems or adjustments to your return. And even if the IRS can’t find you, penalties and interest will continue to accumulate on any tax due.

    David Compton is a Certified Public Accountant with offices in Meridian and Birmingham, Ala.

1
Text Only
Business
Biz Marquee
New Today
Poll

Do you think the city of Meridian should aggressively enforce the city's code enforcement laws on litter, abandoned homes and overgrown lots by issuing tickets and stiff fines?

Yes
No
     View Results
Facebook
Facebook
Twitter Updates
Follow us on twitter
AP Video
Small Plane Crash in San Diego Parking Lot Busy Franco's Not Afraid of Overexposure Fighting Blocks Access to Ukraine Crash Site Dangerous Bacteria Kills One in Florida Workers Dig for Survivors After India Landslide Texas Scientists Study Ebola Virus Smartphone Powered Paper Plane Debuts at Airshow Southern Accent Reduction Class Cancelled in TN Raw: Deadly Landslide Hits Indian Village Obama Chides House GOP for Pursuing Lawsuit New Bill Aims to Curb Sexual Assault on Campus Russia Counts Cost of New US, EU Sanctions 3Doodler Bring 3-D Printing to Your Hand Six PA Cops Indicted for Robbing Drug Dealers Britain Testing Driverless Cars on Roadways
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide