Income Tax Preparation
We realize the difficulties posed by the constant changing face of federal and state tax laws. We can help maximize your tax refund by reducing tax liability and providing advice on how to save taxes in the years to come. Whether you are single or marrried, young or old, we can ensure that you will receive the best and most useful tax advice and tax preparation services.
We are an authorized e-file provider, so you can rest easy as we transmit your tax return within minutes. Your refund can be directly deposited to your bank account in a fast and efficient manner that takes up far less time than traditional paper filing. We also transmit extensions electronically for those filers who need additional time to complete their tax returns.
For those who are sole propreitors and own a business or have interest in a partnership or a corporation, there are additional schedules which need to be attached to the 1040. These include Schedule C, Schedule E, and Schedule D. See our business services section for more detail.
We serve clients from various industries including real estate, financial services, and retailers. Contact us today and see how we can help maximize your refunds and provide comprehensive tax planning advice.
IRS Audit Representation
In addition to our income tax preparation services, we have successfully represented many taxpayers during IRS audits. The audits can be time consuming and can affect your schedule as you have to constantly worry about meeting and talking with the IRS officials. Fortunately for you, we can take care ofthis cumbersome process so that you can rest easy. We have established several contacts with IRS officials who conduct the audits and are intimately familiar with every step in the process. After an initial meeting with the taxpayers, we maintain contact with the IRS officials to explain the facts and furnish additional information to the IRS officials.
About IRS Audits: Just because you have been selected for an audit does not mean you are liable for penalties or have done something wrong. The IRS uses a scoring system whereby certain variables such as income and certain expenses are used to target cases that warrant an audit.
There are three types of audits: Correspondence, Notice of an Office and Field. Correspondence Audit is a letter from the IRS Service Center requesting that you send in copies of your canceled checks and/or receipts in order to verify certain deductions on the return. This type of audit is reserved for small, simple tax returns and most likely your business will not be audited in this manner.
The notice of an office audit also arrives by mail. The letter identifies specific items on the return that are in question and requests that you or your representative to bring certain documents to the local IRS office for the auditor's examination. If your business is a small, sole proprietorship with sales under $500,000, you may be subjected to this type of audit.With a Field audit, the IRS agent, personally, will call the owner/president/general partner and notify him/her that the return has been selected for audit. This type of audit is called "field" audit because the agent will want to conduct the audit at your place of business rather than the IRS office. Most incorporation businesses and partnerships are audited in his manner.
Please contact us to see how we can guide you through this hectic and stressful rocess.
Offer and Compromise
We also represent taxpayers in offer and compromise cases. We prepare all the necessary forms to file with the IRS and maintain contact with IRS officials throughout the entire process until a decision is reached or plan is agreed upon.
Briefly, an offer and compromise is a process available to taxpayers, under Sec. 7122, who owe are delinquent in paying taxes to he IRS and are unable to fully pay them off because of financial reasons. The IRS, under certain circumstances, will allow taxpayers to submit smaller periodic payments to satisfy their tax liablity. There are only two grounds for such compromises -- "doubt as to liability" and "doubt as to collectibility."
If you are in a situation where you have accumulated tax liability that you cannot pay and are constantly being threatened by leins and levy's, please contact us to see if you have a chance to successfully agree to lesser and periodic payments of your tax liability.
NOTE: The information provided above does not consitiute tax advice, but is simply informational. If you are looking for tax advice, please call or email us to discuss your personal situation.