We have experience representing companies in IRS audit situations, compliance, office and field examination situations.
A tax professional will help you reduce the financial, emotional, and mental strain that dealing with the IRS causes. In most cases, we can negotiate with the IRS on your behalf without you having to speak directly with their representatives.
The power of attorney (POA) is the written authorization for an individual to receive confidential information from the IRS and to perform certain actions on behalf of a taxpayer.
An IRS audit is a review/examination of an organization’s or individual’s accounts and financial information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct.
The IRS initiates a correspondence examination by mailing a Letter often termed an initial contact letter, advising the taxpayer that a return has been selected and listing the items to be verified, or a notice, which contains proposed adjustments based on information documents issued by third parties, such as Forms W-2, Wage and Tax Statement; 1099-MISC, Miscellaneous Income; and 1098, Mortgage Interest Statement.
An Offer in Compromise (offer) is an agreement between you (the taxpayer) and the IRS that settles a tax debt for less than the full amount owed. The offer program provides eligible taxpayers with a path toward paying off their tax debt and getting a fresh start.
A federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. The lien protects the government’s interest in all your property, including real estate, personal property and financial assets.
An IRS levy permits the legal seizure of your property to satisfy a tax debt. It can garnish wages, take money in your bank or other financial account, seize and sell your vehicle(s), real estate and other personal property.
Innocent Spouse Relief provides you relief from additional tax you owe if your spouse or former spouse failed to report income, reported income improperly or claimed improper deductions or credits.
Being in compliance means you have filed all required tax returns and have paid your tax bill. If you have not filed all returns or you are unable to pay your taxes or have fallen behind due to job loss, divorce, home foreclosure, a devastating illness, or other unusual hardships you may no longer be in compliance.
A payment plan is an agreement with the IRS to pay the taxes you owe within an extended timeframe. You should request a payment plan if you believe you will be able to pay your taxes in full within the extended time frame
The IRS provides for three different types of tax relief, depending on why you got hit with the penalty. You can request relief due to reasonable cause, first-time penalty abatement or administrative waiver, or a statutory exception.
Professional representation can be vital during an audit, and our experience with tax authorities enables us to guide clients in their dealings with federal and state agencies. If you have been chosen for an audit, the professional representation you can find with our firm can put many of your worries at bay. We are ready and willing to answer any and all questions the IRS may be asking of you. If you have recently received an IRS letter or are concerned that you may soon be contacted by the IRS, then contact us today. A professional can guide you through the process providing the highest level of support and comfort throughout.
© 2022 Morgan Financial Service.