IRS Code 971 is an official communication issued by the IRS to notify taxpayers of issues or discrepancies regarding their tax returns. This notice requires prompt attention and action.
The IRS generally allows 30 days to respond to a 971 Notice. Delays can lead to penalties and interest charges.
Codes 570 and 971 often appear together on tax transcripts, indicating additional review or required action on your part. Codes 570 and 846 on your transcript can affect the timing and amount of your tax refund.
Check your IRS online account for detailed information, and consider consulting a tax professional to navigate the response process. Late or insufficient responses can result in penalties and accruing interest on unpaid taxes.
yuo should have gotten or will be getting a notice from the IRS.