Tax Return Company Can Help You During An Audit
Just the word audit alone can sound scary even if you’re not completely sure what it is. Most people will associate a tax audit with not so good feelings. First let’s talk about what a tax audit really is. A tax audit is a closer looks of an organization, business or individual tax return. The purpose of a tax audit is to make sure that the information given on a tax return has been reported properly. Most people don’t really fear an audit until they are faced with it. If you do get the unfortunate news that your taxes are being audited, you will surely want to turn to a tax return company if you are not already working with one. Let’s discover the extensive audit a little further.
Why am I being audited?
Being audited is not always a bad thing, and other times it could be. Some people intentionally make false reports on their tax returns to avoid paying money or to get more back. Whatever the case may be. Making false reports on your taxes is a serious offence. If this is not the case, you have absolutely nothing to worry about. Some reason why the IRS may audit you:
- Random. Sometimes audits are chosen at random by a computer system and don’t mean that there was a problem found.
- Mistakes. Making errors on your tax return could lead to a tax audit. If you are filing your own taxes makes sure you are entering the correct information. Even a little type could get you in trouble.
- Not including 1099 forms or other sources of income. If you maybe freelance one the side and have a W-2 make sure you include information document from all sources of income. Any documented income you have the IRS already has knowledge of. Not reporting is a sure way to get eventually audited.
These are just a few reasons why you may possibly be audited. Again if you are audited it is not a reason to go into a panic. Since no one knows when or if they’ll ever be audited it’s important to make sure you have any appropriate documents handy.
If you don’t already work with a tax return company, it’s a good idea to consider it.
In the case of an audit, you will definitely want and need the help of a professional to make sure everything goes smoothly. At GLG Accounting, you’ll get the help you need to get through this somewhat intimidating situation. Especially if you have no experience handling tax audits GLG Accounting is always available to get you through the process so it doesn’t have to be any harder than it already appears to be.
A Tax Return Company Can Help
Sometimes people may tend to shy away from seeking the assistance of tax professional simply because of costs. It’s important to look at the bigger picture. Audits are real and can actually happen to you. A tax professional can help you with the things that will really matter if it ever comes to a point where your taxes are audited. With the help of a tax return company, you have a better chance of being organized and prepared in the event of an audit. By working with a tax professional, you’ll never have to guess at what forms you need or what information needs to be included. This is also known as the planning process. We here at GLG Accounting have the ability to help with the planning process as well and any problems that may arise with the IRS such as tax audits. If a tax audit doesn’t go in your favor and you need negotiation for any reason, GLG Accounting is here to help negotiate for you. You don’t have to take on tax auditing alone and shouldn’t have to. This is why it’s important to consider the help of a tax company and to try to tax on the task your-self. Sometimes what seems to be the simplest of tasks can take a serious turn.