Los Angeles, CA (PRWEB) January 25, 2013
CTR’s Aliso Viejo tax attorney has released new tips to taxpayers to help them avoid having federal tax debt. CTR has offices from California to New York, providing taxpayers across the country with tax relief services, tax preparation, audit defense and bookkeeping. The company continues to strive to educate taxpayers across the nation of ways to avoid having IRS debt problems. The following steps are simple ways that taxpayers can ensure they are compliant and fully paid at the end of each tax season:
1. File Income Tax Returns On Time - The IRS considers taxpayers who fail to file their income tax returns to be criminals. Not filing a tax return is against the law and can lead to criminal charges and jail time. Because of this, the IRS has very large penalties and interest for taxpayers who file their income taxes late. Even those taxpayers without the funds to pay their IRS taxes should still file a tax return by the due date, as the penalties for failing to pay the IRS are much less than those for failing to file. California individuals who do not believe they can file by the tax deadline can contact CTR’s Arcadia tax attorney and have a free tax deadline extension filed on their behalf for free.
2. Adjust W-2’s Each Year - While some taxpayers finances do not vary much year to year, many others must factor in important life changes on their income tax withholding each year. If a taxpayer is married, divorced, has children, gets a raise or relocates to a new state, W-2’s should be adjusted accordingly so the appropriate amount of taxes are being withheld each month. Tax withholding prevents taxpayers from having a large tax bill at the end of the year. Individuals can also use it to help them save money throughout the year by withholding more than necessary.
3. Consult A Trustworthy Tax Preparer - Having the same tax preparer every year can be a great way to eliminate financial surprises that lead to tax debt and financial problems. A good tax preparer will be able to advise individuals on the tax implications of yearly financial choices. In addition, taxpayers who use a different preparer increase their risk of having their tax identity stolen.
4. Use a Credit Card To Pay The IRS - Having IRS tax debt is much more difficult to deal with and more damaging to an individual’s finances than having any other type of debt. The IRS can place a lien or levy taxpayers without going through the legal system. Paying taxes with a credit card may feel like putting a band aid on a gash, but will ultimately be easier to pay back and less costly than dealing with IRS penalties and interest.
5. Stay Organized - As with many important things, organization is crucial when doing taxes. IRS tax audits require at least three years of financial records. Taxpayers with debt in need of a settlement plan will be required to submit important financial documentation in order to be approved. Keeping records and important financial documentation organized and secure is a very important step to avoiding having tax problems in the future. Chicagoans can contact CTR’s Aurora tax attorney and CPAs and request to utilize their services for bookkeeping as well. Utilizing professional services can cost money, but will ultimately save a taxpayer money by avoiding mistakes in the future.
CTR reminds taxpayers that income tax debt can be very difficult to handle and is very stressful for those taxpayers that must deal directly with the IRS. The company wishes to help taxpayers remain compliant or become compliant if they have IRS problems. A CTR Augusta tax attorney is always available by phone to discuss a taxpayers situation.
CTR offers tax debt resolution and tax services for individuals and businesses across the United States. The company uses a three step program to create personalized strategies to help taxpayers settle their IRS debt. The company offers many services, including: state and federal tax debt resolution, IRS audit defense, tax preparation and bookkeeping.
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