Newtown, PA --- Larry Rosenblum, president of the Equine Tax Group, today cautioned horsepersons to carefully read any correspondence from the Internal Revenue Service.
Rosenblum stated, “Many of the notices IRS sends out tend to look like tax bills but they are simply proposed adjustments. Taxpayers have appeal rights in these cases and should take advantage of their rights. Endless correspondence or phone calls may result in the missing of an appeal deadline and rights could be compromised. Always be aware of your last date to formally appeal something they propose.
"While every notice is different I can certainly tell USTA members this. If you get a certified letter from the IRS, pick it up and sign for it immediately. Ignoring it will not make it go away. Most likely it is a lien or levy notice which needs to be addressed.
"Secondly if you receive a “Statutory Notice of Tax Deficiency” you need to get to a tax professional and address the issue because you are 90 days away from being assessed tax.
“I want to advise everyone that IRS never contacts taxpayers by e-mail. Any such contact is some sort of identity theft scam.”
For further information on IRS notices and appeals, contact the IRS at 900.829.1040 or The Equine Tax Group at 888.338.2999 or www.equinetaxgroup.com.