IRS Letters charging an unpaid debt due with years of compounded interest
This was a recent topic you addressed on the radio. The next day, we got one of those letters! A perplexing $349 “misapplied” payment with interest compounded in increasing percentages since 2013??? Adding up to over 5k. 1st notice ever about this. Debt due by 12/16/2023. This is insane. We file every year. How do we proceed? Did you reference a website we can go to regarding these crazy letters??? We did notify our CPA who has POA. They will call the IRS and see what they can find out. Any information you can provide would be very helpful. Did you say you are working with some Congressional committee on these letters?
Thank you!
Terry Says
Is this from the IRS? We’ve been working on problems with Social Security clawing back benefits over the years. But if you’ll write back and give more details, perhaps I can reach out to the IRS Office of Taxpayer assistance. I’d need more details though.
