Sep 26, 2021
Millions of Americans have gotten a scary, confusing letter from the Internal Revenue Service in 2021 saying they owe more taxes. Making matters worse, many of the letters are about stimulus payments meant to lessen the blow of the pandemic. The explosion of IRS bills to taxpayers fall into a category known as “math-error” notices, and the IRS sent out more than 11 million of them from Jan. 1 to mid-August. When the letters assess taxes due or reduce refunds, as millions do, they are treacherous for filers because the first notice is also the final notice--unlike with many IRS letters. What’s more, the law assumes recipients have conceded if they don’t respond within 60 days.
Read more at the Wall Street JournalPosted in: