6 Secrets the IRS Doesn’t Want You To Know
If you or someone you know is currently facing IRS difficulties, you can find out how to get back on track with these insider secrets to tax relief.
Learn how to get a leg up on back taxes and delinquent tax returns so that you can avoid severe IRS penalties and financially debilitating levies on your wages and bank accounts – as well as ultimately get a fresh start.
If you find yourself owing back taxes and IRS penalties, here are the six little secrets the IRS hopes you never see.
1. DON’T PAY IRS PENALTIES
The IRS has over 148 different types of penalties they can hit you with. The IRS can also charge interest and additional penalties on the original penalty.
Penalties can be such a high percentage of the total amount owed to the IRS that it usually makes sense to consider requesting the IRS reduce or remove them.
IRS penalties can often be reduced if you have REASONABLE CAUSE. What makes up a reasonable cause? Well, anything may qualify as long as it’s considered reasonable by the IRS.
Some examples are medical reasons, bad accountants, ignorance of the tax laws, ex-spouses, helping to provide care for a loved one, military call-ups, fires, floods, alcoholism, and drug abuse.
2. FILE ALL LEGALLY REQUIRED TAX RETURNS ON TIME
Many people don’t realize that the IRS charges a penalty of up to 25% just for filing your tax return late.
That’s right; you will get hit with an additional 25% of what you owe if you miss the deadline for filing individual tax returns. It’s even worse for payroll tax returns.
What most people don’t know is that you can file ANY tax return on time and avoid the 25% penalty even if you don’t send in the money that is owed on the return.
Yes, you will get a letter from the IRS for not sending in the money owed, but you will have avoided a 25% penalty.
3. YOU DON’T HAVE TO LIVE IN FEAR OF THE IRS
Knowing your taxpayer rights gives you leverage when resolving your IRS problems.
Instead of feeling powerless when up against potentially crushing back taxes and IRS penalties, knowing your rights as a taxpayer, or having a qualified tax attorney can help you understand all the options available to you.
IRS tax problems can cause an immense amount of fear and anxiety. If you have IRS problems, you owe it to yourself to get help.
4. YOU DON’T HAVE TO TALK TO THE IRS AUDITOR
As a matter of fact, going or talking to the auditor yourself is the worst thing you can do.
The taxpayer Bill of Rights allows you to be represented by a qualified practitioner who can answer questions for you and provide documentation to the IRS.
Many taxpayers attempt to handle their own audit or hire the person who prepared the tax return to handle it for them. The reason this usually does not work out is that most tax return preparers do not handle IRS audits on a daily basis.
5. YOU CAN BEAT THE ODDS WHEN FACING AN IRS AUDIT
When it comes to tax audits, the IRS wins 80% of the time when a qualified practitioner does not represent you. Taxpayers are deemed guilty until proven innocent, which means the IRS can start an audit by disallowing every deduction you made on a return until each one is proven legitimate.
If a taxing authority has decided to audit you, it’s important that you don’t let yourself be pushed around by the IRS.
Additionally, if you don’t file your taxes, the IRS may file them for you. This is a bad thing as the IRS files the return in their best interest, not yours.
Having representation for audits vastly improves your chances for successful tax resolution.
6. THE IRS CUTS DEALS
The IRS does make deals on taxes owed, including all penalties and interest. The requirements are rigid, but if you qualify, the results are incredible.
IRS problems do not go away on their own. Begin the process today of solving your IRS/state tax problems – once and for all.
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