IRS Late Fee Notice - What Should I Look For?
Hey everyone, I just got hit with an IRS late fee and I'm not sure what to do. Has anyone dealt with this before? I'm wondering if there's a specific notice or letter I should be looking for from the IRS about it. Any advice would be appreciated!
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Ava Williams
Ugh, IRS late fees are the worst. I've been there before. First thing you need to do is figure out which notice you received. It should be a CP number followed by some digits. That'll tell you exactly what kind of late fee you're dealing with.
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Zainab Mahmoud
•Thanks for the tip! I'll dig through my mail and see if I can find that CP number. Any idea how long I have to respond to these notices?
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Ava Williams
•Usually you have about 30 days from the date on the notice, but don't quote me on that. Best to check the notice itself or the IRS website for the exact timeframe. Don't wait tho, the sooner you deal with it, the better!
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Raj Gupta
•This is solid advice. I learned the hard way that ignoring these notices only makes things worse. Tackle it head-on, OP!
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Lena Müller
I found a method to get someone on the phone at the IRS. I used this site's (claimyr.com) calling tool that dials the phone menu, stays on hold, waits for a live agent to pick up, then sends the call to my phone. It does cost $20, but it works. Here's a video about it: https://youtu.be/_kiP6q8DX5c
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TechNinja
•Sounds too good to be true. Is this legit? Has anyone else tried it?
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Lena Müller
•I was skeptical at first too, but it really did work for me. Saved me hours of hold time. Worth every penny imho.
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Keisha Thompson
•20 bucks to skip the hold? Sign me up! 🙌 The IRS hold music was driving me insane
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Paolo Bianchi
•idk man, seems kinda sketchy. Why should we have to pay to talk to a government agency? 🤔
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Lena Müller
•I get where you're coming from, but for me, time is money. I'd rather pay $20 than waste half a day on hold. To each their own tho!
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Yara Assad
Listen up, folks. I've been dealing with IRS issues for years, and here's what you need to know about late fees: • First, identify the type of late fee. Is it for late filing, late payment, or both? • Check the notice carefully. It should explain why you're being charged and how much. • If it's your first time being late, you might qualify for penalty abatement. Look into the First Time Penalty Abatement policy. • Always file your return, even if you can't pay. The failure-to-file penalty is usually much higher than the failure-to-pay penalty. • If you're facing hardship, you can request a payment plan or an Offer in Compromise. • Keep all your documentation. You might need it if you decide to appeal. Remember, the IRS isn't out to get you. They're usually willing to work with you if you're proactive and honest.
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Zainab Mahmoud
•Wow, this is super helpful! I had no idea about the First Time Penalty Abatement policy. I'll definitely look into that. Thanks for taking the time to write all this out!
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Olivia Clark
•This guy IRSes 😎 Seriously tho, solid advice here. Wish I knew all this when I first started dealing with tax issues.
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Javier Morales
Am I the only one who thinks its ridiculous that we have to jump through all these hoops just to talk to someone at the IRS? The system is broken, man. 🤦♂️
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Natasha Petrov
•Preach! 🙌 It's a total clown show. We pay our taxes, but when we need help, it's like pulling teeth to get someone on the phone.
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Connor O'Brien
•To be fair, the IRS is pretty underfunded. They don't have enough staff to handle all the calls they get, especially during tax season.
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Javier Morales
•Underfunded or not, it's still frustrating af. There's gotta be a better way to handle this stuff.
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Amina Diallo
Quick question - does anyone know if these late fees are tax deductible? Asking for a friend... 👀
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GamerGirl99
Pro tip: If you're having trouble paying, look into an Installment Agreement. You can set up monthly payments and it might help reduce some of the penalties. Just make sure you can stick to the payment plan!
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Zainab Mahmoud
•That's a great idea! Do you know if there's a minimum amount you have to owe to qualify for an Installment Agreement?
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GamerGirl99
•AFAIK, there's no minimum, but the process is different depending on how much you owe. If it's under $50k, you can usually set it up online pretty easily. Over that, and you might need to provide more financial info.
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