Since negotiating with the IRS is a complicated process, it is important to consider the services of a licensed tax resolution specialist to maximize the chances of favorable results.
Irvine, CA (PRWEB) July 31, 2012
Due to an increasing number of individuals being audited by the Internal Revenue Service (IRS) each year, Professional Tax Resolution is urging taxpayers to consider the services of a tax professional to ensure compliance with the IRS guidelines and minimize the chances of an audit moving forward. During the past five years, the aggregate IRS audit rates have increased by approximately 10% and the chance of an audit for high-income earners that earn over $1 million annually has almost doubled.
To maximize the chances of a favorable outcome during an IRS audit, it is important for taxpayers to retain important tax records and documentation. Even though the IRS is normally required to notify taxpayers of an audit within three years of the filing deadline, in cases of large errors they can require six years of records and if fraud is suspected the IRS is not limited by a number of years. Professional Tax Resolution recommends that clients retain original tax returns, legal documents, and real estate transaction evidence indefinitely. In addition, they recommend that other supporting documentation and tax records be kept as long as required by state and federal laws.
“Unfortunately, with approximately 19% of U.S. taxpayers falling behind on federal taxes, the growing number of audits is not a surprise,” said Professional Tax Resolution founder and CPA Brian Hill. “The good news is the IRS recently announced an expanded effort to allow delinquent taxpayers to make payment arrangements through the Offer in Compromise program. However, since negotiating with the IRS is a complicated process, it is important to consider the services of a licensed tax resolution specialist to maximize the chances of favorable results.”
“In order to assist individuals and businesses with potential tax problems, Professional Tax Resolution offers completely free, no-obligation phone consultations to all potential clients,” said Hill. “The consultation, which takes approximately 30 minutes, is with a fully licensed CPA tax professional that has your best interests in mind. Hill continued, “During the phone call, the licensed CPA will thoroughly evaluate the individual’s specific tax circumstances and offer custom guidance on how to proceed with the IRS.
In addition to assisting individuals and businesses that are already in the process of being audited, Professional Tax Resolution’s tax experts can help develop a tax strategy that simultaneously complies with the requirements of the tax code and reduces the tax burden.
About Professional Tax Resolution:
Professional Tax Resolution, which was initially founded in 2007, is an ethical tax resolution company that is focused on achieving maximum results for each of its clients. At Professional Tax Resolution, clients can be assured they are dealing directly with licensed tax professionals, not commissioned salespeople. To receive a free tax consultation or find out if Professional Tax Resolution can help you, call (877) 889-6527.