Additional Finding For Your Tax Return – Letter 692
Letter 692 accompanies a report giving you a computation of the proposed adjustments to your tax return. It informs you of the courses of action to take if you do not agree with the proposed adjustments. Letter 692 explains that if you agree with the adjustment, you sign and return the agreement form. If you do not agree, you can submit a request for appeal/protest to the office/individual that sent you the letter. Letter 692 or referenced publications explain how to file a protest. You need to file your protest within 15 days from the date of this letter in order to appeal the proposed adjustments with the Office of Appeals.
Interesting letter. We don’t see letter 692 too much.
The IRS has several examination letters. They like to make adjustments, and then ask you to defend them later. This way, when you don’t defend them, or don’t even get the notice, the adjustment, after your appeal rights end, will become an assessed tax, thereby giving the IRS the right to take enforcement action. We are always happy to help our clients defend such adjustments. Please call us at 713-774-4467
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If you do receive the notice that additional findings were found on your tax return, make sure you hire a professional. With over 30 years of experience under our belt, the team at Joe Mastiano PC is well equipped to manage your case and promise you the best outcome. Visit our website for additional information by clicking the link below or call us NOW, at (713)774-4467.
