I Got A Letter From The IRS. Am I Going To Jail?

No, you most likely are not going to jail – but you absolutely do need to open and read the letter, because the Internal Revenue Service will not just go away.

There is an understandable tendency on the part of many people to not want to open and read correspondence from the IRS, particularly when they think the letter contains bad news. But the letter may not contain bad news, and if you do not respond you might only make the matter worse – perhaps much worse.

Most importantly, many Internal Revenue Service letters trigger the running of statutory time periods. This means that you must take some action within the time frame specified in the letter. If you do not act within the time period set forth in the letter, you may lose very important rights. Thus, it is imperative that you read any correspondence from the IRS as soon as possible. This cannot be stressed enough.

 

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