As a small business owner, you may be used to opening your mailbox and seeing an envelope from the IRS. It’s not always an indication of something wrong or demanding immediate action. However, if that letter is filled with words like “seize” or “levy,” it’s more than enough to raise some red flags. You may even worry that you’ll go to jail. (Don’t worry; that’s pretty unlikely!)
Warning letters have different meanings for small businesses than they do for individuals. You worked hard to build your business from the ground up, and it’s a big fear that you may have to close it. Plus, if you’ve been working with an accountant or payroll specialist, having so much on the line because of your accounting or payroll can feel like a betrayal of your trust.
At CSI Accounting & Payroll, it’s not uncommon for us to get letters from the IRS. After all, we’ve been working with small businesses for over 50 years. Strong language in letters from the IRS isn’t always a cause for alarm and can just be used to encourage a quick correction of an issue. Everything will be alright; we know what to do.
Other small business owners who have received alarming letters from the IRS want to know:
- Why they are receiving an IRS letter
- What it would take for them to go to jail
- How to get the letter’s issue resolved