We Received a Notice of Taxes Due From the IRS. What Should We Do?

We Received a Notice of Taxes Due From the IRS. What Should We Do?

Answer - If the Association was not expecting the notice, the issue needs to be researched. The IRS notice should give the details of the tax assessment. This needs to be compared with the Association’s records. At times the Association may need to request an account history from the IRS to get the details of payments and taxes over several years. Other times the CPA may need to be asked to assist if they prepared the tax return. Consider the following two general rules we suggest: