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What Does the Audit Process Involve?

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  There are three types of audits: A correspondence audit is done by mail. Never by email or by phone! The IRS will request specific documents that are being questioned in the tax return. A field audit is when the IRS requests to come to your office, home or tax preparer’s office to perform the […]

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Why was my return selected for audit?

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It is not really certain what might lead to an audit by the IRS, and this results in many taxpayers acting nervously. Although it is not really clear what leads to an audit, tax experts say there are some specific factors that can enhance the possibility of you getting selected for an audit. Some of […]

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What are my rights when I am dealing with the IRS?

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The Taxpayer’s Bill of Rights can be of benefit to have, when you want to deal with the IRS. There is additional information at https://www.irs.gov/uac/About-Publication-1, but see below for quick reference:   –           The right to receive professional customer service. All dealings with the IRS should be prompt, courteous, professional and easily understandable. If you […]

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What to do if the IRS Comes Knocking on Your Door?

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Agents of the taxing authorities need to regularly carry out site visits to make sure that what you may have stated in the papers you filed in response to the request of an audit is true. They mostly do this to intimidate any individual that always seem to evade complete payment. However, you are under […]

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Should I hire a tax attorney or a CPA to handle my tax problem?

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  Accountants provide cover for general bookkeeping, financial planning, preparations and filing of tax returns, providing assistance with cost, budgeting, estate planning and asset management and can assist in carrying out comprehensive business growth decisions. The CPAs or Certified public accountants have gone through training that is more specialized and also have the needed credentials. […]

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Tax law in 2016

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Tax day for 2016 is approaching, and there are a few changes to expect in 2016 regarding tax law that you should be aware of when preparing your taxes. Here is what you need to know to ensure you’re heading into this year prepared. Affordable Care Act Penalties: People without health insurance in 2016 will […]