Understanding the IRS Substitute for Return
Click to ask Mike Ask Mike The Internal Revenue Service (IRS) Substitute for Return (SFR) is a term many taxpayers
LETTER 525
IRS Letter 525 is a notice issued by the Internal Revenue Service (IRS) to inform taxpayers of proposed changes to their tax return resulting from an audit. The letter will explain the changes in detail and provide instructions on how to respond.
Reasons why it happened:- Mathematical errors on the tax return
- Unreported income
- Improper deductions or credits
- Unsupported claims
- If you receive IRS Letter 525, it is important to review the proposed changes carefully. If you agree with the changes, you can sign and return the enclosed agreement form. If you disagree with the changes, you can request an appeal.
How to appeal it:
- To appeal IRS Letter 525, you must file a protest with the Independent Office of Appeals (IOA) within 30 days of the date of the letter. The protest must be in writing and must include your name, address, Social Security number, and the date of the letter you are appealing. You must also state the reasons why you disagree with the proposed changes.
- Review the proposed changes carefully and make sure you understand them.
- Gather any documentation that supports your position.
- If you are unsure about anything, consult with a tax advisor.
- Respond to the letter promptly.
- Keep a copy of all correspondence with the IRS.
Important Tip: Not sure where to begin? Try our Tax Relief Finder tool. It helps you find IRS programs and gives recommendations for the best solution. Learn about our - Tax Relief Program Finder
Important Tip: Understanding the Tax-Relief process is an essential resource for individuals dealing with tax debt. It offers a road map guide, simplifying the steps needed to resolve tax-related issues- Tax-Relief Process
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Disclaimer: This is educational content, not legal, accounting, or tax advice.Â
