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Smart Money: What to do if you get a letter from the IRS

Tax season is a few months behind us, so you may get a letter from the IRS. Don't panic!

GRAND RAPIDS, Mich. - Chris Harper from Grand Valley State University and Hungerford Nichols joined us Tuesday, July 30 to find out what you should do if you get a letter from the IRS.

One of the biggest things to remember is that simply getting a tax notice doesn't mean you did something wrong. Most inquiries can be solved by simply responding. Some letters might even be letting you know about a change that works out to your advantage.

If you don't agree with a proposed change, respond to the address listed on the tax notice before the deadline. Explain why you disagree. Include any relevant information to support your position.

If any of this seems over your head, don't be afraid to reach out to a tax professional or a financial adviser.

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