Greetings. I received a Notice of Deficiency from the IRS which has alarmed me because the 'summary of proposed changes' reflects only the entire amount of recalculated taxes and a penalty, while the letter I received previously had a 'summary of proposed changes' showing recalculated tax along with the amount already paid, and the penalty. It's alarming because I construed it as the IRS suggesting I owe that entire sum [a large portion of it was already paid!].
Can anyone elucidate me as to formatting in a Notice of Deficiency form? Am I misconstruing the information in the 'summary of proposed changes' and thus alarmed unnecessarily? They do have all my information with regard to amount of taxes paid; it's reflected in one of the pages of the NOD. But when it comes to the IRS..... I am wary. Thanks in advance for any guidance.
Can anyone elucidate me as to formatting in a Notice of Deficiency form? Am I misconstruing the information in the 'summary of proposed changes' and thus alarmed unnecessarily? They do have all my information with regard to amount of taxes paid; it's reflected in one of the pages of the NOD. But when it comes to the IRS..... I am wary. Thanks in advance for any guidance.