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Get your taxes done using TurboTax
The information letter comes from the IRS and provides guidance on how to interpret the law. Just because the IRS has not challenged the deduction does not mean it is correct. It simply means your return has not been pulled for additional processing. They can internally audit returns at anytime and if yours was selected for examination, the deduction would be disallowed and they can go back any number of years to disallow claimed credits.
As a tax professional, I can only provide you with guidance on the tax law. What you choose to do with this information is up to you.
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March 7, 2024
11:35 AM