Helping You Take Control of Your Tax Situation
When it comes to tax filing, many people can feel overwhelmed by the complexities of filing and their tax liabilities. However, this doesn't have to be the case.
Accounting, Tax and Investigations Group in Kennesaw provides expert tax services to help businesses and individuals make the most of their tax situation. Whether you are dealing with tax debt or need someone to help you get your filing completed on time, our experienced CPAs have the knowledge and insight you're looking for.
Don't let taxes become an unnecessary burden. Contact our firm for help today.
Why Choose a CPA for Tax Help?
Whether you're trying to manage your individual or business taxes, tax filing can feel complicated and stressful. With tax laws frequently changing, you could be missing out on opportunities to help you lower your tax liability. You could also be at risk of costly errors if you aren't clear on certain filing requirements.
A professional CPA, on the other hand, has years of experience that help you to avoid common errors and catch valuable savings. They also stay updated on changes in tax legislation and how it applies to you or your business. Most importantly, having your taxes in professional hands helps to provide you with more time and less stress, knowing that you have someone knowledgeable on your side.
What is Tax Resolution?
Tax laws are more complex than ever, making it that much easier for tax problems and debts to arise. When you have difficulties with the IRS, whatever the reason, the stress and financial impact can feel overwhelming.
With tax resolution services, you have a qualified CPA who acts as a go-between for you and the IRS. This financial expert uses their knowledge of your situation and the IRS operations to find ways to resolve your situation and help you get out from under the shadow of tax debt.
Your Individual Tax Resolution Specialist
Individuals can face tax problems for a variety of circumstances, such as financial hardship due to loss of income, unforeseen expenses, or being unaware of certain tax laws or regulations. In any of these situations, back taxes, late charges, and other tax debt can quickly derail your financial security.
As your representatives to the IRS, we work with them to provide a solution that will allow you to deal with taxes owed in a reasonable and achievable way. There are several tactics we can employ:
When tax debt is too burdensome to address in a single payment, the IRS provides opportunities for the amount to be paid in installments. We represent your interests and work with the IRS to establish a reasonable payment plan that allows you to deal with the debt over time and avoid crippling penalties.
When a tax debt is so large, or your circumstances make it impossible for you to be able to pay the full amount (for example, a sudden disability that prevents you from working), it may be possible to significantly reduce your overall debt through an Offer-in-Compromise. We can approach the IRS and propose a portion of the debt that can be paid, and negotiate with them to reach a conclusion. Once an Offer-in-Compromise is accepted and the agreed amount is paid, you are free and clear of all tax debt.
Innocent Spouse Relief
In the unfortunate event that your spouse has committed tax fraud or tax evasion, you could be held legally responsible for their actions and would be liable for their debt. However, relief exists for unaware spouses through Innocent Spouse Relief. Spouses who were kept in the dark about their partner's actions can be cleared of the debt, freeing them from an unfair tax burden.
While never ideal, sometimes bankruptcy is necessary when dealing with debt. Bankruptcy does not release all tax debts, but can help to mitigate what's owed. We help you understand how bankruptcy would impact your tax obligations so that you can make an informed decision about how to move forward.
Small Business Tax Resolutions
Taxes are a significant part of operating a small business, and when you owe the IRS, it can make running your business much more difficult. Fortunately, you don't have to navigate it alone. We can represent you before the IRS and negotiate with them to find a workable solution to your situation.
Do I Owe if I Get Audited?
A tax audit placed on a business does not automatically mean you owe money, though you may have to pay depending on the result. When audits occur, it typically means the IRS has found a discrepancy in one of your previous tax filings and need to investigate it further. Audits can also occur due to random selection.
In either case, the IRS will request that you provide specific documentation. Once the audit is complete, they will notify you of the results. The two most likely outcomes are that no change is needed, or that they have determined that the amount was incorrect and you owe unpaid taxes. This is not the end, however; it's up to you to accept the changes they propose or disagree with them.
How a CPA Can Help You During an Audit
When we serve as your representative during an audit, we handle all IRS interactions. We can provide the necessary paperwork, review the findings of the audit, and verify whether the data backs their findings. If there is a disagreement, we can appeal the findings and open negotiations to help reach a conclusion. In the event that you do owe, we work with the IRS to establish a reasonable form and timeline for payment, including installment agreements if needed.
What If I Can't Pay My Business Taxes?
If your business can't cover its tax debt, you still have a chance to seek options. Whether you have existing tax debt or you're concerned about an upcoming tax form, we can work with you and the IRS to help minimize your time spent with debt and the amount you owe.
If You Can't Pay But Need to File:
You should never avoid filing a return, regardless of whether you can pay at the time or not. Failing to file results in late filing penalties that only compound what you owe, and gives the IRS an opening to complete the return for you, which won't end in your favor.
Instead, the better course is to file your return and pay whatever you can toward the debt. We can reach out to the IRS to discuss your situation and potentially find options to reduce your payment or establish a payment plan.
If You Already Owe:
There are multiple options for dealing with existing tax debt, depending on how much you owe and your reason for not paying. We work closely with you to clarify your situation and determine what, if anything, you can pay toward the debt. We then confer with the IRS to try to establish a solution, be it a payment plan, Offer-in-Compromise, or an alternative option.
What if I've Overpaid on My Taxes?
If you've paid taxes only to discover later that you were eligible for exemptions, credit deductions, or some other refund, you won't hear about it from the IRS. Instead, you'll have to appeal to them for a refund on the overpayment. We can facilitate filing for a refund and help you get back what's owed to you.
Top 5 Benefits of Professional Tax Preparation
No one enjoys doing their taxes, but if you've never tried professional tax preparation before, you may be unsure of how you can benefit. When you come to us for your tax preparation, you can expect:
How Tax Planning Helps You Save
Changing tax regulations can make tax filing more complex, but they can also open up new opportunities for you to save on your taxes. Many of these regulations can be available to you if you know how to approach them beforehand.
Turning to a CPA for tax planning provides you with an expert who can help you navigate your tax situation and select strategies to help you save next time you file. First, we build a comprehensive picture of your tax liability and create an estimate for what you'll owe. We then identify potential deductions, tax credits, or exemptions that you could gain by applying certain strategies.
Timing is a critical factor in tax planning. Deciding when to make large purchases, whether you should upgrade certain equipment, or how to handle charitable donations can all significantly impact your liability. We help you create a working timeline for the year so that you know when and how to make the smartest and most tax-savvy decisions.
Effective Tax Solutions When You Need Them
You don't have to face taxes alone. At Accounting, Tax and Investigations Group, we're committed to helping our clients overcome financial obstacles and reach their goals of tax debt relief.
Don't spend another day stressed over what you owe the IRS. Contact our office and get the help you need today.