One of the most stressful situations regarding tax payments is when you get an audit notice by the IRS. Well that’s obvious because no one likes being checked and investigated. But this is the job of the IRS and to be honest, they pretty much can’t help it.
In order to provide best tax services in Orlando, we have decided to give you some tips on how you can avoid an audit and even if you are being audited, how can you pass it without any difficulties. First of all what you need to know is that you are selected for an audit for two reasons. Either there was a fault in your papers or tax total or the IRS just wants to tease you with a visit.
Remember to never ever get confused, tensed, or nervous when you get an audit notice. This way the IRS will assume that your billings and tax payments were faulted or in simple words you are hiding something.
Start by hiring a tax attorney or a CPA for yourself. This will help you get your files and papers in order without any hassle. There are a number of renowned firms who have professional attorneys for tax services in Orlando, who can help you through tough times. Also, make sure that you have reported your correct income to the IRS throughout the year. Many a times an audit is brought upon by incorrect income reports.
If you are unable to gather the required data and files in less time then ask for more time. Don’t hesitate. This will help you get enough time in which you can properly collect all the required files and information for the audit and you can also have some time to relax and loosen up some muscles.
Calling the meeting at your place is a big blunder. Choose an outside place or location for the meeting. What we suggest best for the meeting is your attorney’s office. Let him deal with the IRS because he has the relevant experience and he’ll be more comfortable in handling them in his comfort zone.
Tax attorneys are very helpful, they can help prepare you for the audit and counsel you on your behavior. Any sign of nervousness will get you in trouble so don’t speak too much. Instead keep calm and composed and wait for the IRS to ask you questions. Don’t volunteer to give information because it can create problems for you.
Note this down; never to lie to the IRS. That is The Rule. Well, we all know the IRS knows it all, so it will be silly to lie and hide important data from them.
These tax services in Orlando will help you get through an audit successfully. If your auditor gets to you and doesn’t listen at all then consider filing an appeal against them. The best you can do is hire a professional attorney who provides tax services in Orlando and unburden yourself from the stress of an audit.
Are you unemployed and confused about your tax payments?
Many unemployed people think that tax payments will be waved off of them. That is a misconception most of you have. Tax services Orlando will help you through the process of tax payments while you are unemployed. The IRS needs a tax payment whether or not you are employed. This means if you don’t have a job you still have to pay your taxes.
There are some benefits to your unemployment status too. But in order to know the details and necessities of your unemployed phase you need to contact professional tax services in Orlando. First of all enlist yourself as unemployed to the IRS. We’ll help you with rest of the steps of tax payments while you are unemployed.
What you need to know?
There is a certain requirement of the IRS according to which you are liable to pay your taxes even when you are unemployed. If you received a W2 from your last employer and made at least $8,950 then you are eligible to pay tax. Tax payment differs from person to person and according to different circumstances.
Unemployment benefits – the truth you need to learn
Many people view unemployment benefits as non-taxable. We would like to add a little to your knowledge that unemployment benefits are taxable. Alright, the amount you’re receiving might not be enough but it is taxable.
If you go through tax services in Orlando, you’ll come to know that there are some benefits that you can enjoy while you are unemployed. One thing is settled that you have to pay your taxes no matter what but you sure can ask for some deductions in your tax amount. The deductions allowed are of a few types and if you pass the criteria then you can get a little tax off your money.
If you are searching for a new job and for this purpose you need to travel on your own expense then you are eligible to file for deductions. Even any professional consultant for new job search or getting your cv made professionally can fulfill the IRS criteria of being eligible for deductible expenses.
Moving for a new job?
If your new job requires you moving 50 miles away from your home then you are eligible for moving expense deductions. A benefit of deducting moving expense is that you can claim it without filing an itemized tax return. You can also file for medical deductions and health insurance premiums to prescriptions. This will only apply if your medical costs are greater than 7.5 percent of your adjusted gross income.
A simple advice from our side would be; that you don’t delay the tax payments. Either way you have to pay these income tax returns and confusing unemployment with cancellation of tax payments is senseless and can cost you money in the form of penalties and interest. Consulting tax services in Orlando will make a way for you to know more about your tax return policies whether you are employed or unemployed.
If you need more information about our Orlando accounting and tax services, please contact us at 407-502-2400. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, Hunters Creek, Lake Nona, and Celebration, FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt status applications.
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