In a perfect world, the federal and state tax codes would be written simply and equitably for better understanding and compliance. But as everyone knows, that is clearly not the case. Getting an audit notice in the mail makes your heart leap into your throat, but don’t panic just yet. Roberts Tax Advisory can review your situation and provide Tax Resolution to minimize the tax you may owe plus any penalties and interest that might have accrued.
When the IRS initiates an audit, they are making the assumption that they will collect additional tax from you. But an audit costs them money and there is not always a net gain after their administrative costs. So their intent is to maximize the amount you owe. Finding an experienced financial advisor to help you navigate this minefield is essential to minimize your liability. Someone who can effectively and competently present your case will make this whole episode much less painful and costly.
The role of your tax resolution professional is to help you understand the position taken by the IRS, the dollar amounts they believe you owe and why the IRS believes the original tax return was in error. In return, your professional advisor will find any legal responses that will help your position. Payment plans or payment reductions can often be negotiated for you. In general, the peace of mind gained in knowing that you have someone going to bat for you can make this turbulent period in your life much less challenging.
The IRS website offers a variety of basic information for taxpayers who can’t pay or are being audited. But most of us find any interaction with the IRS to be too complex and intimidating to even think of trying to go it alone. The benefits of professional assistance, including accurate reading of the tax laws and knowledge of resolution strategies, far outweigh the cost.
So when the audit notice comes in the mail, whether for your personal or business returns, contact us to analyze your situation and see what can be done to resolve the matter quickly and fairly. You stand a much better change of a timely resolution with a competent professional by your side. You’ll also sleep better at night!