Nothing strikes fear in the hearts of people more than an IRS Audit letter in the mail. Audits take significant time away from your business and family, requiring you to gather mounds of records substantiating every item reported on your tax return.
The IRS leaves no stone unturned in its mission to determine the accuracy of your tax return. If you don’t comply with the Auditors’ wishes, the IRS will recalculate your tax and send you home with a hefty tax bill as your parting gift.
Many taxpayers decide to handle a tax audit themselves, and discover they may have been “penny wise,” avoiding a representative’s fee, but “pound foolish,” because they received a substantial bill for a significant tax deficiency.
You see, IRS Auditors are trained to extract more information from you than you have a legal obligation to provide. IRS Auditors know that most people fear them and are ignorant of their rights. As a result, they know they can use that fear and ignorance to their advantage.
Tax laws provides many protections against IRS overreach which an experienced EA, CPA, or Tax Attorney at Torchlight Tax Las Vegas, can use to your benefit. There are many provisions that protect a Taxpayer in an audit. You are not a criminal because you are being audited and you do have rights. The worst thing you can do is not use your rights.
We can assist you in resolving various IRS issues. We work for you-NOT the IRS. Our hat is analogous to that of a defense attorney representing you in court. You can sign an IRS Form 2848 IRS Power of Attorney and authorizing one of our EAs and CPAs to represent you before the IRS and refuse to talk to the IRS directly.
Many Americans do not realize that YOU DO NOT HAVE TO TALK TO THE IRS. We can do it for you, and it is usually much more effective. We know when the IRS is overstepping. When they ask us a potentially incriminating question, we can say honestly “I don’t know. I will get with my client and get back with you.” Then we can review the situation and come back with the best answer. Even if you did make a mistake, we will present the answer in the best light.
Remember. This is America. You are innocent until proven guilty. If you are not talking to the IRS, you are not going to incriminate yourself.
When you talk to the IRS, you are at a disadvantage. They know more than you about taxes and tax laws. When one of EAs, CPAs, or Tax Attorneys talk to the IRS, the situation is usually reversed. If they ask us a question that is inappropriate, we can take it down and get back with them. We have time to decide if it is an appropriate question or not and respond appropriately. And we can say, “I don’t know. Let me get with my client and get back to you.”
Rarely do our clients even have to talk with the IRS. An expert Torchlight Tax Advisor in Las Vegas will handle it all for you so that you need not take time off your business or job to handle the bureaucracy and paperwork of the IRS. No lost wages or business. You simply forward notification of an audit to us, and we handle it from there.
If you’ve received an audit notice from the IRS, contact Torchlight.
Call us at 1-877-758-7797 or 702-463-1818 or email us at info@TorchlightTax.com. We can transfer your call to a branch office near you or help you directly from our central office. . Free consultations are available.
Many people do not know how a professional tax and accounting firm differs from a bookkeeper or tax preparer. The main difference when working with a professional tax and accounting firm, such as Torchlight Tax, is that our firm utilizes the services of CPAs, EAs, and Attorneys who are distinguished from bookkeepers and other tax preparers by stringent qualification and licensing requirements. Our entire team has a purpose to legally save your tax dollars and to make taxes as painless as possible. This means we take your calls and respond to your concerns. If you receive a threatening IRS call or Notice or are worried about some tax question, we are here for year round taking your calls and responding to your emails.
Whether you are filing personal, small business, or corporate taxes, or negotiating IRS tax debt, if you are not already using a professional Tax, Accounting and IRS Representation firm, you most likely have missed out on major tax benefits. This is because a professional tax and accounting firm utilizes licensed professionals such as Certified Public Accountants (CPAs), EAs and Attorneys, who can not only advise individuals on personal financial matters but who can also advise businesses and corporations of all sizes and types. Tax laws are complicated, and no one knows everything. Torchlight Tax is a team and any one of our tax pros can call on other EAs, CPAs and Tax Attorneys in the team who may have specialist knowledge in a specific area of tax.
When doing current taxes, we often come across missed tax savings from prior years. When this happens, the Internal Revenue Service allows you to amend your taxes and lower your tax liability. Whether you or your prior tax preparer missed a W-2 or 1099, a revised 1099. large charitable donations, or made some other error, amending your tax return can help you recover the money you are rightfully owed. When we find this situation, we will advise you on potential savings and amend the previously filed tax return.</p”>
Sometimes, there may be a situation where a tax return could be amended, but it is too late to receive any benefit. Or maybe you made an error that was missed by the IRS that would have increased your tax liability. In some cases, it is prudent to file an amended return. But if it is not necessary and will not save you any money or decrease your risk, we will tell you not to bother. It is silly to amend a return to no advantage which is too old for the IRS to audit. Some firms might file a bunch of unnecessary tax returns and charge a fee. Sometimes a taxpayer himself might increase his tax liability by filing an unnecessary amendment that increases his tax liability. We will not do this.
Amending a tax return requires more professional acumen then doing it right in the first place. At Torchlight Tax, we do file the tax return correctly the first time. And we will happily amend your tax return, but only if it actually is to your benefit. If you think you might need to amend tax returns, contact Torchlight Tax for a free consultation.