Letter 4414, Proposed Adverse Transmittal Letter, page 2

Letter 4414, Proposed Adverse Transmittal Letter, page 2

We have enclosed a consent Form to extend the period for assessment. However, before signing this form, it is important that you understand your rights concerning consents. They are:

  1. You have the right to refuse to extend the statute of limitation period.

  2. You have the right to ask that the extension period be limited to particular issues held open for further examination or appeal. (Please note that we have limited the extension period to the interest income related to the Bonds.)

  3. You have the right to ask that the statute of limitation period be limited to a specific date.

If you wish to exercise any of your rights mentioned above, please review the enclosed Publication 1035, Extending the Tax Assessment Period, for a more detailed explanation of your rights, options, and procedures.

We ask that you sign and return within two weeks from the date of this letter, two copies of the enclosed consent Form, which will extend the statute of limitation period. A self-addressed envelope is enclosed for your convenience.

Note: It is important that you sign your name exactly as it appears on your tax return(s) for the tax period(s) shown above.

If you filed a joint return, each of you must sign a consent form. You may each sign individual copies of the consent, or you may both sign one set together. After you return the signed consent form(s), we will sign them to indicate our acceptance and return a copy of the form to you.

If you have questions concerning the enclosed form or your rights when extending the statute of limitations, please contact the person whose name and number are shown above. If the phone number is outside your calling area, there may be a long distance charge to you. The IRS does not accept collect phone calls. If you choose to write, please provide a phone number and most convenient time to contact you.

If you have any questions, please contact the agent assigned at the telephone number shown above.

Sincerely, Agent Name, Revenue Agent, TEB Bondholder Unit

Enclosures

  • Proposed Adverse Determination Letter

  • Envelope

  • Consent Form(s)

  • Publication 1035