When Do You Need a Tax Relief Service?
If you make an income from work you do or receive revenue from a business you run, you must pay taxes. Sometimes, circumstances occur that make paying on time difficult, or mistakes are made that result in you falling short of the amount you owe. You may just need help to decipher the tax laws for your particular business. You can hire tax relief services to help you navigate toward a solution. Here are some common issues Tax Group Center professionals can help you work through.
Small Business Bookkeeping
When you start your own business, you may be overwhelmed by the amount of knowledge you need to do everything correctly. A Tax Group Center can help you with basic bookkeeping to ensure that your records are correct and you are paying on time. They can help you set up a budget, produce accurate operating statements and balance sheets, and assist with bank reconciliations. Having someone who knows small business tax law well to help can give you peace of mind.
Innocent Spouse Relief
If your spouse under-reports income on your joint return without your knowledge, there may be a way for you to be relieved of the responsibilities and penalties associated with his or her actions. Tax relief professionals can help you build your case. In order to qualify for relief, you must meet the following criteria:
- Show unreported income or incorrect tax deductions from your spouse on jointly filed return
- Establish that you were unaware of the issue at the time of filing
- Prove that it would be unfair, given all the facts, for you to be held accountable for the error
Tax Audit Appeal
There are several situations that could trigger a tax audit. Failing to report taxable income, making accounting mistakes, and reporting business losses several years in a row could bring your submission under review. If a mistake has been made, an audit will typically result in extra fines. When you are audited and would like to contest the outcome, attorneys and agents at a tax center can help you appeal your case.
If you are unable to pay taxes on time, the IRS will likely assess penalties on top of the amount you still owe. This makes your debt to the government even larger than it was before. If you have a reasonable cause for not paying, however, you may qualify for penalty abatement. Because the burden of proof is on the taxpayer, it can be hard to get an abatement approved. Tax lawyers and CPAs can work with you to gather the evidence you need to prove your tardiness was not a result of neglect or lack of due diligence on your part, and they can advocate for you with the IRS.
If you own money to the IRS, Tax Group Center professionals can assist you in exploring how to make payments. An offer in compromise may be appropriate if part of your taxes or penalties can be forgiven. Tax law professionals can review your records to see if you have a chance to be granted an OIC. If not, however, you may still be able to space out your payments over a certain period of time. Tax professionals can help you make an installment agreement so that you can pay what you owe if you do not qualify for an OIC.
Tax rules can be complicated, and filing your taxes correctly can be difficult to navigate on your own. If you have made mistakes or owe the IRS more money than you can handle, you may benefit from tax relief services. Tax and legal professionals are qualified to help you resolve tax problems.