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Facing an IRS audit can be scary and confusing. Good representation is crucial during this process. A skilled professional can help you navigate complex tax laws, protect your rights and potentially reduce your tax liability. Let's explore why representation matters...
Imagine this: you are sitting at your kitchen table, sipping coffee, and filling out your tax returns. It is a task you have done annually with slight dread, but this year, a misplaced decimal or an overlooked deduction spirals into a scenario you never expected —...
An IRS audit is a serious matter which involves a review of a taxpayer's accounts and financial information. The goal of the audit is to ensure the taxpayer correctly reported information according to the tax laws. The IRS is also looking to verify the reported amount...
The IRS may notify you of an audit, tax dispute or collection action. These issues, if not resolved quickly, can lead to serious complications and financial risks. It is important to understand why you may need to defend against the IRS’s allegations and whether...
Receiving a letter from the Internal Revenue Service (IRS) stating that an audit is imminent can be a frightening experience. Many taxpayers initially panic. Then, instead of taking every reasonable action they can to protect themselves, they may rush through the...
The mere thought of a tax audit can send chills down most people's backs -- and there's no question that the Internal Revenue Service (IRS) audit process is stressful, complicated and overwhelming for most people. Audits can happen for all kinds of reasons. You can be...
Tax debt can create serious financial stress, especially if you're unable to make full payments. For Ohio residents facing significant tax debt, the Internal Revenue Service offers a potential solution: the Offer in Compromise (OIC) program. This arrangement allows...
Facing an IRS audit can feel overwhelming, but preparation can make the process smoother. Follow these steps to get ready and ensure everything goes as smoothly as possible. Gather all necessary documents According to the IRS, the agency closed more than 582,000 field...
Although operating a business on your own has a lot of upsides, taxation is not one of them. All sole proprietors must pay both income taxes and self-employment taxes on the total income of their businesses. Understanding these tax obligations is necessary for sole...
Imagine you and your spouse file taxes jointly but your spouse does the filing and either makes a significant mistake, fails to report income or claims deductions that are not accurate. You might think that because you filed jointly, you are liable equally and if your...
