The word “audit” is enough to strike fear in the heart of any taxpayer. Although the IRS announced it will conduct fewer tax audits in 2016, an audit is always a possibility – especially if you mismanage your tax return. Continue reading 5 Red Flags That Can Trigger an Audit
With tax season quickly coming to an end, it’s easy to feel like too much Tax Attorney paperwork and confusion is also at the helm. Some of you might even be spending today catching up with paperwork and submitting your taxes for 2015. While you do this, here are a few things to keep in mind.
As the clock ticks down today many accountants will be too busy to help individuals who wait too late to start the process. It might also be more difficult to get a hold of your accountant because he or she is managing a number of different cases at the same time.
Make sure you have patience in reaching out to your accountant. If you’ve got an ongoing tax issue outside of your filing your 2015 taxes, you may have to wait a couple of weeks before he or she is able to get back to you.
Rest assured that this is typical for this time of year, when accountants are overloaded with the last-minute filing submissions of other clients during tax season.
Try to set up an appointment in May or even June if you can for another tax-related issue. If you have an escalated concern where you need someone to help step in on a tax issue, it might be time to consult with a tax attorney.
Tax attorneys have the kind of specialized knowledge about advanced tax issues so that you can get your questions answered quickly.
You Have Numerous Options for Tax Filing
The way that people file their taxes with the government is evolving and many individuals are choosing to work with tax preparation software instead of hand filing.
There are numerous different software programs that can help you do this. There are advantages and disadvantages associated with each kind of tax filing method, so you should do a bit of research to see what is the right one for you.
The IRS Is Increasingly Concerned About Identity Theft
After far too many erroneous refunds were given to fraudulent individuals last year, the IRS is cracking down on identity theft associated with tax filing.
Thankfully, new security measures are expected to minimize the amount of issues this tax season. Make sure that you fill out all of your information correctly and report any issues of suspected fraud to the IRS as soon as possible.
One other implication of this new process is that it could make the process of filing your taxes and receiving your refund take even longer. The average wait time could take more than 20 minutes per call. Try to remain patient and use online tracking tools if you are curious about when you can expect to receive your refund.
Budget Hikes Mean Audits Are Less Likely
Although audits are fewer as a result of a $290 million budget increase for the IRS focused on customer service issues instead of compliance and enforcement, you do still need to be aware of the potential disadvantages of an audit. Consulting with a knowledgeable attorney and accountant in this situation is essential.
Consult a Tax Attorney For Last-Minute Tax Help
Do not hesitate to reach out for help if you believe that you have advanced tax issues that warrant the insight of an experienced tax attorney. Knowing when to reach out for help rather than try to resolve things on your own is critical.
With the IRS being overwhelmed, it’s very important to work with someone who understands the system and who is committed to representing your interests to the fullest.
If you need help with a complicated tax concern, consult with an experienced Colorado tax attorney as soon as possible.
Tax season is upon us again. Many individuals and businesses have taxes on their minds, and software providers, tax authorities, tax prepares, and even tax attorneys like us are all on high alert—ready to meet the demands of this year’s tax season. Learn more about what you can expect this year when filing your 2015 taxes.
Various issues associated with the 2015 filing season for taxes in 2014 had a great increase in terms of tax fraud and declines in expectations about the customer service with the IRS.
Most of the changes for this year will have to do with security and timelines, but you can increase your own chances of successful filing or dealing with an outstanding issue by hiring a Colorado Springs tax attorney.
Tax officials and tax preparation companies are looking to include new security measures in effort to crack down on criminals who use stolen identifying details to file fraudulent tax returns.
This is why some tax officials in Colorado Springs and beyond are asking filers to have patience while authorities attempt to gather plenty of details to minimize the chances of identity theft before a refund is paid out.
Slower Turnaround Times for Refunds
According to the Deputy Director of the Federation of Tax Administrators, Verenda Smith, fast refunds are a thing of the past. Now state tax agencies are using letters, quizzes, and other measures to gather the right amount of information for consumers.
They are also looking at identities against driver’s license databases. Software providers are also requiring account holders to use tighter login requirements and passwords to minimize the chances that a criminal could access their personally identifying information.
Multi-factor authentication is also expected to increase this year. One of the most important things you can do to prepare for this tax season is to work with a Colorado Springs tax lawyer.
Having a tax attorney who can help you with any outstanding issues can be extremely beneficial. Having disagreements over your refund amount or requested amendments to your tax returns as well as audits can be very frustrating and disheartening for sure.
When You Need Help with a Tax Issue
There’s no doubt that any kind of confusion or SNAFU with the IRS can cause you to have high levels of anxiety. It can be tempting to avoid dealing with the problem at all, but the most important thing you can do is acknowledge that there’s an issue.
Even if you have made a solid effort to address an outstanding tax issue, you might be confronting the limits of bureaucracy.
Having a Colorado Springs tax attorney step in to handle what you need can be very beneficial. This way you don’t have to worry about ignoring the problem but you also know that someone knowledgeable and committed to your case is working on it.
Learn more about working with a Colorado springs tax lawyer for individual tax representation here.
Why it Can’t Hurt to Call a Colorado Springs Tax Attorney
Problems with filing your taxes this season
Whether you need individual tax representation, debt relief or tax resolution or assistance with your corporate taxes, having someone who knows the lay of the land and can help you avoid common missteps is essential.
Do not hesitate to get help when you have tax questions. Being organized and providing all of your materials to your accountant on time can go a long way towards minimizing problems with filing your taxes this season.
Even if you believe that you’ve done everything correctly, tax issues do arise that warrant the insight of someone experienced in handling complicated problems. You should not attempt to deal with escalated issues on your own.
Visit here to learn more about how an experienced Colorado Springs tax attorney can help you address IRS concerns in a timely and effective manner.