Surprise! You may owe the IRS money because of a ‘math error’

Posted on AllSides October 7th, 2021
From The Center
(Shutterstock)

If you get a letter from the IRS that says you owe money because of a math error, pay attention. You could get one of four kinds of letters: CP 11, CP 12, CP 13, or letter 6470. None of them is likely to contain good news.

The Taxpayer Advocate Service says 9 million Americans have gotten notices from the IRS that say the government is billing them for payment due to a “math error.” 7.4 million of the errors were due to pandemic-era stimulus overpayments.

But wait, there’s more.

Financial experts...

Read full story
https://www.poynter.org/reporting-editing/2021/surprise-you-may-owe-the-irs-money-because-of-a-math-error/

More News about Taxes from the Left, Center and Right

From the Left

From the Center

From the Right