IRS ISSUE - Last week, accountants received reports from members whose clients have gotten unusual notices from the IRS. These notices claim the individuals owe taxes despite having paid the taxes before July 15th. Although the checks for the taxes are reported to have cleared the bank, the IRS is sending out notices dated Monday, August 17th, that show the tax due along with penalty and interest. In response to feedback from members experiencing similar issues, the issue is a result of IRS employees being sent home as a result of the COVID-19 pandemic. Many of the employees who were sent home are responsible for opening the mail that is received by the IRS. These employees are only now returning to work. The IRS is advising that tax preparers call the IRS and use their PTIN to discuss specific accounts that have experienced this issue and request that a hold be placed on the account. The IRS has indicated that hold of up to 8 weeks may be requested. Most importantly, the IRS has stated that taxpayers should not put a stop payment on the check. You must wait for the IRS to process the check. Once a hold is placed on the accounts, the system will catch up with processing the payments automatically.
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Michael Lodge is a Nationally Certified Professional Mediator specializing in business disputes, as well as family conflicts. He has written three books and hosts an international podcast on IHeartRadio and other podcast media stations.