When The Taxman Comes Knocking!
When you receive a request from the IRS to either answer a few questions or come in for a visit, it pays to have someone in your corner who knows how to deal with the issue.
This is not the time for you to go it alone, as ignorance of the law is no defense, and the wrong answers could cost you and your family a lot of money.
So, rather than ignoring the problem, you need to meet the challenge head-on and that’s where tax audit representation can take all the stress out of your life.
What is Tax Representation and How Can it Help You?
Whether you need assistance with state or Federal Tax, an authorized tax representative can speak for you as a trusted advisor. Tax representation gives you the best possible opportunity to deal with the IRS fairly and equitably.
Tax representatives are on call to help you answer any questions the IRS may have for you.
Whether you are a small business owner or a second-generation mature company, the IRS is interested in how accurately you declare both your income and your expenditure. Cash businesses or businesses that operate with highly desirable stock such as high-end fine dining restaurants as well as large medical clinics are targets for closer inspection.
An IRS audit, whether it is a request for you to send supporting documentation by mail or email or an in-person office audit, requires careful preparation and strategy. Experienced tax representatives know exactly what the IRS is looking for and will help you to submit documentation and answers that fully cover all the eventualities that may arise.
What Will a Tax Expert Do for You?
When the IRS request an audit, they do so with the understanding that you may, either willfully or through error, have made an error in the calculation of your tax liability.
These errors either relate to an overstatement of your allowable tax deductions or expenses or, an understatement of your income.
To fully answer the IRS audit team’s questions, you’ll need to provide documentary evidence which proves the figures you submitted on your tax return are correct. Together with the invoices, receipts, bank statements, contracts, and other information that the audit requires, you’ll need to provide schedules that reflect accurate totals that agree with the financial statements and other submissions you may have made when filing your tax return.
Bear in mind that the IRS’s job is to extract the maximum amount of tax that they can from you.
Your tax representative’s job is to use the tax code and their knowledge of how the tax authorities operate, to minimize the amount of tax you have to pay within the limits of the law.
Here’s How Your Tax Representative Can Help You
Through a careful perusal of your unique business circumstances, your tax representative will help you to:
- • Prepare tax returns & answer tax questions
- • Address both your personal and business tax needs
- • Prepare a strategy for dealing with the IRS
- • Help you to avoid careless mistakes which the IRS will pounce on
- • Assist you in dealing with any back taxes
- • Reduce the cost and save you time with your accountants
- • Represent you at any IRS audit meetings
- • Reply to any further inquiries from the IRS relating to your audit
- • Negotiate with the IRS on your behalf to get you the best outcome possible
How to Choose a Tax Representative
A tax representative must not only be highly knowledgeable in tax law, but they must also be familiar with the type of business you are in and be aware of any special circumstances that will affect your tax position.
In this profession, experience counts.
The IRS has the upper hand in most dealings with taxpayers, as they have the weight of the government and the law behind them. It is intimidating to sit across the desk from a tax auditor whose sole job is to extract every last dime that you may owe in tax.
And to do their job, they will employ every trick in the book to help them achieve that end.
It stands to reason that you should have an equally experienced professional in your corner. One who has the knowledge and experience to address the audit queries in a professional and timely manner with the sole intent of minimizing the amount of tax you must pay.
When appointing a tax representative, you should consider their history and experience in dealing with IRS audits. They should ideally also have experience in your industry.
A representative who knows your industry will be able to focus on the areas that are of most concern and address them from the perspective of prior experience. Apart from theoretical knowledge, your representative must have spent time with the IRS, thrashing out agreements for the benefit of their clients.
There should be no doubt in your mind that your representative has your best interests at heart.
Acquire Peace of Mind with the Right IRS Audit Representation
With proper audit planning, your IRS audit representative will ensure that your financial data, supporting documentation, and tax law arguments are correct and will offer a process that is as seamless as possible.
The Duran Business Group staff are available to assist individuals and businesses in Phoenix with IRS problem resolution. Their experience in dealing with IRS audit queries for both large and small business entities give them the knowledge of how best to assist you when the IRS targets you or your business.
Avoid fines, interest, and penalties! Don’t ignore your tax problems, as they will only get worse the longer you wait.
Our tax relief services include representation and resolution of employment tax problems, 941 payroll tax problems, wage garnishment release, bank levy release, professional tax representation, negotiated tax settlements, back-tax help, and more.