You’ve filed your taxes every year for your small business or yourself. Maybe you’ve been a little late a few times, but you thought everything else was done correctly and there weren’t any problems because you had someone help you who you thought you could trust. Then you received a dreaded IRS audit notice and you don’t know what to do about it. You suddenly realize you don’t really know anything about how your taxes work or what has been going on with your paperwork. There are numerous laws regarding taxes and the IRS that many of us don’t know anything about, so the best way to handle it is to look into IRS tax services from a professional.
Taxes can be a very delicate and tricky situation. If this is your first time being audited, you may not have anything to worry about. However, if you’ve unknowingly done something wrong in your filing, an expert can help with making sure you don’t find yourself in a sticky situation. Or worse, if you were unaware of what has been going on with your taxes because you were having someone help you with them, you need to know about all the details of what to expect from the IRS.
If you’re behind on taxes and owe the IRS money, they have the right to do many things in order to get the money from you that you owe. This includes garnishing your wages or putting liens on your property that ruin your credit, make it difficult to get loans or financing, and make it impossible to sell your property until the problem is fixed. They can even seize your assets, including your home. Depending on how deep your problems go, you could even be facing additional penalties for unpaid taxes, or criminal charges if you were evading payment of your taxes by illegal means.
Instead of trying to learn everything about taxes overnight, enlisting the help of a professional in IRS tax services can save you time, stress, and even money. There are options that professionals can help you with, such as working with the IRS program of Offers in Compromise to pay less than you owe if you’re unable to afford your back taxes. Depending on your situation, a professional can prove to be a huge asset to you and may be the difference between filling in the blanks of what you don’t know about tax laws, or unmanageable stress and additional problems.