Skip to main content

Scary IRS Letter? Here’s Your 5-Step Action Plan


 Scary IRS Letter? Here’s Your 5-Step Action Plan


You just got a letter from the IRS. Your heart dropped. You’re wondering if your account is about to be frozen, your business is in trouble, or if someone’s about to show up at your door.

Before you panic, PAUSE 😌

The truth is, IRS letters can be scary, but the letter doesn't always mean immediate action. On the other hand, ignoring them is the worst thing you can do.

Here’s what to do as soon as that letter hits your mailbox:

  1. Open the letter.
    I know it’s tempting to throw it aside, but unopened letters lead to missed deadlines and that can cost you for sure.
  2. Look for the letter number.
    Is it a CP14 (balance due)? An LT11 (intent to levy)? Each notice means something different and knowing which one you received will help us figure out the next step.
  3. Pull your tax returns, proof of income, business expenses, and any previous IRS correspondence. This is how we build your defense and negotiate your case.
  4. Get representation before calling the IRS.
    The IRS may record your conversation and what you say can be used against you. Having a licensed rep like me speak for you protects your rights and reduces your stress.

No matter how bad you may think the letter is or looks, just know you still have options. You still have rights and most importantly, you don’t have to go at it alone! 🤝

 

 

 

Lloydetta Bryant, EA, MBA is your Revenue Reset Partner and Tax Expert who will work diligently to find the right solution for your specific tax situation. As an Enrolled Agent licensed through the IRS, Lloydetta can step in on your behalf to advocate for you. As a content creator on YouTube, you’ll find that focus on helping black women-led businesses with Solutions Beyond Taxes. Although we are a virtual firm,  Ethical Tax and Business Services is located in the Savannah/Richmond Hill areas, and can serve taxpayers in all 50 states by providing tax services from compliance to representation and the expertise needed to get the job done. Visit our website at www.ethicaltaxandbusinessservices.com

#TaxHelp #IRSRepresentation #BackTaxes #BlackWomenInBusiness #Enrolled Agent #TaxRelief #IRSpenalties #WellnessEntrepreneur #EthicalTax #TaxDebtHelp #LicensedTaxPro


Comments

Post a Comment

Popular posts from this blog

👂Owe the IRS $30K or More? Here’s What the IRS Won’t Tell You - But I Will

  If you're a successful business owner in the health and wellness space and you owe the IRS $30,000 or more, it can feel like you’re drowning in silence. You’re managing your brand, your team, your clients... all while pretending this massive tax problem doesn’t exist. But here’s the truth: the IRS isn’t going to tell you your options. They’ll send letters, stack penalties, and let the pressure build. But they won’t tell you what I’m about to. As a tax representation specialist and Enrolled Agent, I’m here to help clients settle tax debts, and for some, for far less than what they owe. I want you to know that this is not the end of your business. In fact, this could be the beginning of finally taking control of your finances. Here’s what the IRS won’t tell you: You may not have to pay the full amount. Programs like the Offer in Compromise or Partial Pay Installment Agreement exist to help taxpayers who genuinely cannot pay their full debt. You h...
Post a Comment
Read more

🚨 Got IRS Letter 11? Here’s What It Means and Why You Shouldn’t Ignore It

  🚨 Got IRS Letter 11? Here’s What It Means and Why You Shouldn’t Ignore It If the IRS sent you Letter 11, LT11, you’re officially on the clock. Ignoring it could cost you your paycheck, bank account, or even your peace of mind.   What is IRS Letter 11? This letter is a final warning before the IRS takes collection actions like levying your bank account or garnishing your wages. It lets you know the IRS intends to seize your property or rights to property.   What Happens If You Ignore It? Failure to respond will result in levy action from the IRS.   They can claim right to your wages or bank accounts up to the amount owed in back taxes . The IRS may also file a Notice of Federal Tax Lien, which is a public notice to your creditors that the government has a right to your interests in your current assets and any assets you acquire in the future. Ignoring this notice can affect your ability to obtain a new passport or renew your current passport as well...
Post a Comment
Read more

Start it Up

Today there is a lot of online presence. Whether it is through one of the many social media platforms or personal websites, business websites, or even the people who decided to make a video on their way to see a man about a dog, you can find it online. I figured...hmmm why not join the millions of people who already do this and add my five cents right. Or maybe no one in my home wanted to hear me talk anymore since we work and do school from home together.  Whatever the reason, I'm here and I'm ready! Welcome to Let's talk TAXES! Here we will discuss all things...you guessed it...taxes. Oh and just so you know, there are some fun things that fall under this topic so don't worry, I won't bore you to death! Not only will we discuss taxes, we will also learn how the things we do in our everyday lives can affect our financial wellbeing. Who knows, maybe we can even learn how to avoid making common mistakes that cost us in the long run and positively effect our fina...
Post a Comment
Read more