Five Tax Secrets
to Avoid IRS Difficulties
I am experienced with
many types of businesses. There are a lot of successful business
people making a lot of money, but there are also businesses
that are making no money at all. One big problem unsuccessful
businesses have in common is IRS difficulties.I am very effective
in helping businesses end their IRS problems and avoid them
in the future. Read the following
FIVE TAX SECRETS and contact me now. You owe it to yourself
to take action and rid yourself of all IRS problems.
1. File All
IRS Required Tax Returns On Time
Most people don’t realize that the IRS charges a penalty
of up to 25% just for filing your tax return late. That’s
right, 25% of what you owe. This includes individual tax returns,
payroll tax returns and corporate tax returns.
The fact is you can file ANY tax
return on time and avoid the 25% penalty even if you don’t send in the money that
is owed on the tax return. You’ll still hear from the
IRS for not sending the money owed, but you will avoid a 25%
2. Don't Pay
The IRS has more than 148 types of penalties. These can add
up because the IRS also charges interest and additional penalties
on the original penalty.
You can request
the IRS to "abate your penalties." Before
you pay the bill, you ask to get the penalties reduced or completely
abated to zero. I can help determine when and where to make
your request depending on the type of penalty assessed.
Pay Your Payroll Taxes On Time
Sometimes businesses get behind on payroll taxes due to cash
flow problems. The IRS takes a very serious approach to collecting
delinquent payroll taxes and may levy or seize company assets
very quickly. In addition, the penalties and interest assessed
by the IRS are excessive for this type of delinquency.
Each of the check signers listed on the bank signature card
may be held personally responsible for the payroll taxes. Before
the company gets into the danger zone, all non-essential check
signers should be deleted from the bank signature card.
If you are a check signer on the company checking account,
it is your responsibility to make sure all payroll taxes are
paid at least monthly to the IRS.
Avoid IRS Audits And
if you get audited, end it quickly.
You can avoid IRS tax audits by following these simple guidelines:
- File your tax return
- Report all income for which you received 1099 or
- Avoid Schedule C
- Set up some type of record keeping
- Don’t make your
tax return look absurd
Most of the people who get audited are self-employed and use
Schedule C to report income and losses from their business.
These forms often cause all sorts of red flags at the IRS.
Your entire tax return must look reasonable. This includes
filing status, dependents and expenses in relation to income.
Avoid adding errors, deductions on the wrong lines, wrong form,
missing forms and messy hand written forms.
If you receive an IRS audit letter,
listen up. You don’t
have to go. You don’t even have to talk to the auditor.
The Taxpayers Bill of Rights allows you to be represented by
a CPA who can answer questions for you and provide documentation
to the IRS. I strongly recommend this approach. The best way
to end an IRS audit with a great outcome is to end it at the
Don't Pay IRS; Cut A Deal
The IRS may cut a deal on taxes owing, including all penalties
and interest if you qualify. The requirements are rigid; however,
it is in their best interest to get you back in the system
as a current taxpayer and to collect on old taxes owing.
The fine print
requires you to file your tax returns and pay on time for
the next five years. If you don’t, the IRS
then revokes the deal and bills you for the original amount,
plus interest and penalties.
Many of my "offers in compromise" presented
to the IRS on your behalf are accepted. Let Howard Choder,
Enrolled Agent, assist you. You owe it to yourself to take
action and rid yourself of all IRS problems.