Tax Guy: What should you do if you have problems with the IRS? Here is advice to help you during that stressful time.

by | Aug 25, 2022 | Stock Market

How do you deal with a problem like the Internal Revenue Service? And how do you deal with your own tax problems as they pertain to the IRS? To be clear, I’m not talking about major problems like righteously owing lots of money for back taxes, plus interest and penalties, or being investigated for tax fraud. Folks in those situations need professional help from a CPA or tax attorney.

After all, more than half of the $80 billion in supplemental funding in the Inflation Reduction Act would be earmarked for more tax-compliance enforcement. Officials, including Treasury Secretary Janet Yellen and IRS Commissioner Charles Rettig, a Trump pick to lead the agency in 2018, have pledged that the extra enforcement would not be directed at small businesses or households making less than $400,000. The IRS plans to double its workforce. The agency says its full-time head count last year was almost 79,000, a roughly 13% decrease from its size in 2012. (The U.S. population increased by roughly 8% over that span.) The money for the IRS — which would supplement annual congressional appropriations — is supposed to boost the number of audits of corporations and wealthy people, upgrade IRS technology, improve customer service and rebuild the staffing ranks. This column is not addressing tax fraud or evasion. Instead, I’m talking about mundane problems like not receiving your tax refund or dealing with an erroneous IRS notice. With those thoughts in mind, here are some observations and advice:How long should I wait for a refund? According to the IRS website, you should receive your refund within 21 days of filing your …

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