How to handle an IRS notice, according to a tax lawyer - Business Insider

Chip Somodevilla/Staff/GettyIn an interview with the Wall Street Journal last year, Olson said the worst mistake any taxpayer can make is not responding to a notice from the IRS.

For nearly 20 years, tax lawyer Nina Olson was tasked with policing the Internal Revenue Service on behalf of American taxpayers. reported the Wall Street Journal's Laura Saunders Over the last 18 years, Olson "made some 40 recommendations enacted by Congress and persuaded the IRS to make hundreds of administrative changes," Saunders wrote. Still, Olson says the IRS has a long way to go. Too many Americans are confused by"They're afraid of the IRS and don't act," Olson told the Journal. "The worst thing someone can do when an IRS notice comes is nothing. Take it from me: If you get a letter, call the IRS.

Unfortunately, the IRS is not well-equipped to handle customer inquiries efficiently, Olson said. "The IRS is walking away from actually conversing with taxpayers," she said. "This past filing season, only 33% of callers got through on the telephone line dealing with compliance issues like liens and levies. Those who got through waited an average of 41 minutes."

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

TikTok is providing parental controls - Business Insider - Business InsiderTikTok rolled out a parental control feature dubbed 'Family Safety Mode' in the UK, and is set to expand it to other regions in the coming month. Is there a 'CCP Block Mode' too? 🤔
Source: BusinessInsider - 🏆 729. / 51 Read more »

Dispensed Business Insider weekly healthcare newsletter February 21 - Business InsiderDispensed: Big Pharma's plans to compete with buzzy startups, Sanofi's entrance to the coronavirus vaccine race, and a Medicare Advantage pitch deck
Source: BusinessInsider - 🏆 729. / 51 Read more »

Seeking nominations for the most important insiders shaping the future of TV advertising - Business InsiderWe're looking for a variety of big names and people working behind the scenes who are shaping everything from over-the-top TV to new ad formats.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Netflix insiders describe postmortem emails that detail firings - Business InsiderNetflix insiders describe the internal 'postmortem' emails that break down why employees were fired — and what it's like to write one
Source: BusinessInsider - 🏆 729. / 51 Read more »

Essential apps used by the best small businesses on Amazon - Business InsiderThe finalists of Amazon's small business of the year awards told us what apps are essential in helping them stand out from the competition.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Southwest Performance Business card review: Sign-up bonus and benefits - Business InsiderThanks to the current sign-up offer for up to 100,000 points, you can use this card to earn the coveted Southwest Companion Pass
Source: BusinessInsider - 🏆 729. / 51 Read more »