The most common letter received from the IRS is a CP-2000. This simply shows differences between what is shown on the return versus the income that was reported to the IRS.
If you receive a CP-2000, do NOT assume you owe what they say you owe. In many cases, you owe less than what they show or in some cases you do not owe anything at all. For instance, if they get a form showing you have rental income that you failed to report. They assume you had the extra income, but the IRS does NOT factor in rental expenses. Obviously, in most cases you have expenses that at least partly offset the income. If we amend and add both the rental income and the expenses, you may not owe anything at all. In some cases, you may even be getting an additional refund.
In all, call us to set up a consultation so that we can see what is going on and determine if we may be able to help you.