A smart way to work with BestTaxPro is having us defend you in an audit, because our firm’s Enrolled Agents match the knowledge of procedures and rules that the IRS auditor has at his or her command. A tax audit is a contest, and what’s at stake is your money.
Without the professional expertise of our BestTaxPro Enrolled Agents, most taxpayers are at a distinct disadvantage in an audit – even if the originally filed tax return was 100% correct in the first place. You can live with the stress and try your best to defend yourself on your own in an audit — or you can let BestTaxPro’s professionals deal with the audit so you don’t have to. We actually wrote the book on how to survive an IRS audit.
An IRS audit is (very generally) about identifying income, properly characterizing it under the tax law, and assembling evidence that supports qualification and amount of expenses and deductions. Whether you will owe more or less tax rarely, if ever, depends on whether the auditor is as nice as Mother Theresa or as cruel as Darth Vader. IRS auditors are neither; they are well-meaning public servants tasked with a job to do: principally justified by finding legal ways under ridiculously complex tax laws to get more money out of the taxpayer in front of them. What IRS auditors and examiners do have, that you do not, is a superior ability to work within a complex set of tax rules and regulations to accomplish their objective.
You most definitely will want to hire a tax professional to work with you. However, in the case of a tax audit, all tax professionals will not be equally good at representing any given taxpayer. An accountant, even a CPA, who does not defend more than a few IRS audits a year simply will not have the knowledge, education, experience nor expertise to give you the distinct advantage that BestTaxPro’s audit defense specialists deliver.
IRS penalties and interest make owing back taxes much worse the longer they go unpaid. They make the total debt grow very rapidly, in some cases up to almost 50% more than the original tax owed. If you work with BestTaxPro to resolve your tax debt, our firm challenges each and every part of the presumed tax debt: principal, interest and penalties. After assuring that the tax the IRS originally assessed is the lowest amount allowed by law, BestTaxPro goes to work to see if the penalties can be reduced or completely forgiven.
The added IRS penalty on back tax debt adds a significant additional burden to pay. BestTaxPro analyzes your life circumstances to helps determines whether you fit within any of the categories under which the IRS must, or has the discretion to, forgive all or some of the penalties the IRS assessed. The specific types of circumstances that can qualify range from the occurrence of a natural disaster, a serious health problem for the taxpayer (or the need to care for a family member), the death of a family member, bad financial advice from a professional on whom it would be reasonable to rely upon or lost or destroyed financial records. A “just because” argument will not work. BestTaxPro has the professional skill and experience to evaluate and describe any qualifying circumstances in a way that will fit the IRS definitions for penalty abatement so your IRS penalties may be reduced or completely eliminated.
Miss a Payroll Tax Deposit and it Gets Very Bad Very Fast
The IRS considers a payroll tax deposit to be THEIR money that you are merely holding in trust for the Government until it is due – at which instantthey better get THEIR money. The IRS is very aggressive about collecting payroll tax and will come after a business’s assets very quickly, at times not even hesitating to pierce the corporate veil and go after the individual owners’ personal assets if the business does not have enough liquid assets on hand to seize. Stiff penalties and interest begin to accrue immediately. If the IRS can make the case that the failure to make the deposit was not inadvertent, that it was done knowingly and intentionally, you could be looking at criminal prosecution.
With a payroll tax problem, you really are better off getting the payroll tax debt relief experts at Best Tax Pro to intervene immediately – your business and your economic life are at stake.
At Best Tax Pro we can intervene on your behalf to negotiate a settlement to stop the threat of further asset seizure and accumulation of interest and penalties. In a payroll tax case, it is important to specify how payments are applied and in what order, because it makes a difference for minimizing the economic damage caused by one missed payroll tax deposit. Payroll tax payers have enforceable rights, but you have to know what they are and how to apply them to best mitigate the damage. Best Tax Pro has helped many businesses with this type of problem; saving businesses each month.