Reasons You May Have to Repay the IRS, Part Four
“The IRS issues overdue balances without calculation or explanatory analysis,” said Dan Herron, a Certified Financial Planner and CPA with Elemental Wealth Advisors. CNBC last year.
Another problem is that the IRS usually informs you of the error message that you have more than 60 days to respond.
If you do not, the adjustment is final and you lose the right to file a lawsuit with the U.S. Internal Revenue Service.
However, more than 5 million taxpayers were sent a math error report last year, without the 60-day language being included.
As a result, the IRS rejects some plain language letters, including the time you have to respond.