IRS Reference Code 1242 and/or Topic 151 Review, Can You Help?
Many people mistake our site as a chat for the IRS. We are a tax resolution firm helping people solve tax problems. While we could represent you in this claim of filing status and/or the tax credit(s) , you will need to determine if it would be cost effective for you. Our typical fee for a case like this would be $1,250.
If that is not within your budget, I would suggest that you contact the IRS yourself. The trick to reaching the IRS on the phone is to call them when they first open on the EAST Coast (7 AM EST, VERY IMPORTANT to call in EST at 7 AM)
Below are some suggested reading materials;
What to Do if We Audit Your Dependent Claim
Supporting Documents to Prove the Child Tax Credit
IRS uses code 1242 to indicate that your return was received electronically, selected for review, and frozen until the review process is complete.
What to do next?
You will likely have received IRS CP 05 Return Errors Notice or will soon. You will need to promptly respond to the request for review and provide well-supported documentation. If you do not provide the documentation or the IRS feels the deduction is not properly supported, they will adjust the return. If that is the case, you will have appeal rights.
How can we help?
In this review, we can represent you before the IRS if you are uncomfortable representing yourself or do not feel comfortable providing the correct documentation to properly support your position on the return.
Note: This case could easily be referred for an IRS audit if the IRS does not like the documentation provided.
Click the calendar link below to set up an initial IRS 1242 Review Representation Quote Discussion
https://calendly.com/taxman/initial-irs-1242-review-representation-quote-discussion
Below are some things we may be able to help you with that may be cost-effective.
Filing or amending back tax returns to get refunds or stimulus payments
Solving tax problems (Federal or State)
Obtaining an EIN or ITIN number
Filing a US or Non-resident return
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