Handling IRS Audits

<p>Enrolled agents are professional tax preparers that have the knowledge&comma; experience&comma; training&comma; skills and expertise in federal taxation&period; They are also authorized to represent taxpayers before the IRS&period;<&sol;p>&NewLine;<p>Our access to current information about tax laws and regulations equips us with relevant and reliable knowledge to represent taxpayers before the IRS&period; Our years of experience and expertise as enrolled agents and accountants provide us with the skill to represent taxpayers that have tax issues with the IRS&period; With our services the following services can be addressed&colon;<&sol;p>&NewLine;<ul>&NewLine;<li>Representing Taxpayers before the Internal Revenue Service<&sol;li>&NewLine;<li>Representing Taxpayers before the Department of Revenue &OpenCurlyDoubleQuote;North Carolina”<&sol;li>&NewLine;<li>Taking the Necessary Steps to Resolve Taxpayers’ Tax Issues with the Tax Authorities<&sol;li>&NewLine;<li>Innocent Spouse Relief&comma; Removal of Tax Liens&comma; Levies &amp&semi; Garnishments<&sol;li>&NewLine;<li>Negotiate Settlement&lpar;s&rpar;&comma; Prepare and Present Offer in Compromise<&sol;li>&NewLine;<li>Set Up Installment Plans<&sol;li>&NewLine;<li>Assist Clients to Meet Tax Compliance<&sol;li>&NewLine;<&sol;ul>&NewLine;<h3>Tax Tips<&sol;h3>&NewLine;<ul style&equals;"margin-top&colon; 0px&semi;">&NewLine;<li><strong>Filing &amp&semi; Paying Taxes Due on Time&colon;<&sol;strong> Taxpayers should always file their tax returns on time&comma; regardless of whether or not taxes due have been paid in full&comma; in order to avoid failure to file penalty&period; The failure to file penalty increases the amount of taxes unpaid&period; This makes it more difficult for taxpayers to pay the taxes owed in a timely manner&period;However&comma; the statute of limitation period does not exist if no return is filed&period; Therefore&comma; the government can and will assess the tax or initiate a court proceeding to collect the amount of tax owed at any time&period; It is constructive to file returns on time when required&period;<&sol;li>&NewLine;<li><strong>Failure to File &amp&semi; Failure to Pay&colon;<&sol;strong> The IRS will charge interest on taxes not paid by the original due date&period; Taxpayers who do not file a return by the due date are liable to a 5&percnt; monthly penalty on the net tax owed&period; The maximum penalty for failing to file a return is 25&percnt;&period; If failure to file your tax return is due to fraud&comma; the penalty rate is 15&percnt; monthly&comma; up to 75&percnt; of the portion of understatement attributed to fraud&period;<&sol;li>&NewLine;<li><strong> Protect and Safeguard Assets &amp&semi; Records&colon;<&sol;strong> Since taxpayers are responsible for items on their tax returns&comma; it is important to have proper records of transactions to substantiate your deductions and claims&period; Taxpayers should safeguard assets and maintain accurate financial records&period;<i>Taxpayers should keep all documents &lpar;including cancelled checks&comma; receipts&comma; and other data&rpar; that support their statements of income and deductions&period; These documents are necessary to prove accuracy and completeness of the tax returns to the taxing authorities&period; <&sol;i>Because the final responsibility of the tax returns rests on taxpayers&comma; it is important to review them carefully with your tax preparer before signing it&period;<&sol;li>&NewLine;<&sol;ul>&NewLine;