For many people, filing taxes is an easy thing. However, taxes aren’t always that a walk in the park. In fact, business owners and wealthy individuals can easily run into problems if they’re not careful. This is where tax defenders can come in to help — if for any reason you are in trouble with the Internal Revenue Service, they can assist you in from getting too entangled in the law.
But how do you know you are in need of a tax adviser or defender? Here are some warning signs to keep an eye out for.
You’ve received a Notice of Deficiency from the IRS
This is a document that means the IRS has received information that differs from what you have reported on your tax return. With this new information in mind, it will explain the proposed increase or decrease in your taxes, and this may be confusing at first. A tax adviser can help you determine what is right for your financial well-being.
There is a significant increase or decrease in your annual income
The IRS is always on the lookout for major changes in income because this can show that the taxpayer is potentially under-reporting earnings. Unless this is reported properly, there’s a likely chance you will need a tax audit. There are three potential IRS audits: correspondence audits, office audits, and field audits. A tax defender will be able to walk you through your IRS audit with no problem.
You have just merged or started a new company
For many small business owners, it can be exceptionally confusing to understand tax law when it comes to merging two businesses together or starting a new company. If you’re in this situation, you may want to consider utilizing a tax defender during this time so everything is filed as it should be.
You need to file a wrongful levy or wrongful disclosure form
A wrongful levy or wrongful disclosure form is when the IRS determines that a property has been wrongfully taxed. The submission of this form can make the IRS wary of your truthfulness when filling out your taxes, so they may call for an IRS audit. Remember, you’ll never want to fill out forms like these without a professional by your side.
If you find that you are experiencing one of these situations, do not hesitate to contact our tax defenders today. We will lead you down the right path when it comes to the complex entanglement that can be the IRS, so please call us today.