A $250,000 IRS notice. An unreported home sale. One successful tax resolution.

The Challenge: A $250,000 IRS Tax Notice

A taxpayer contacted Stevenson Tax Services, Inc. after receiving an alarming notice from the Internal Revenue Service. According to the notice, he owed approximately $250,000 in additional federal income taxes for the 2023 tax year.

The dispute originated from the sale of a residential property that the taxpayer had not reported on his federal income tax return.

Without the necessary information explaining the transaction, the IRS issued a substantial tax claim.

The situation became even more serious when the IRS applied $20,761 from the taxpayer's other tax overpayments toward the disputed liability.

The client needed professional assistance to determine whether the assessment was justified and to recover money that had already been withheld.