You Were Audited. What Do You Do Next?

Being audited for a tax return can be a scary thing. But it not necessarily an indicator that you or the tax professional you are working with made a mistake or did something wrong . In some cases it simply means that more information is required to help the IRS understand your tax return before they can process it. In other cases it can mean that something was left off such as a W2,1099, or some other party reported something different from you. If you are a small business owner, self employed or received a 1099 NEC or 1099 MISC there is a possibility that you need to provided proof of the expenses. We see some clients skip years of filing tax returns. This could place you in a position of paying penalties for not filing plus interest without any credits or deductions being taken into consideration, In any case our company will help you interpret your IRS notices and provide you with solutions if you are a client of ours and we submitted your tax return. If we made the mistake we will file the necessary forms to correct it. If the mistake was because of an omission of information then we will help if hired. If you are not a client of ours we will still assist you with the process. One thing we will say that is universal with dealing any IRS notices that you receive is to respond to them or have a tax professional respond to them immediately. This is important. Many IRS notices are time sensitive meaning they have deadlines for the taxpayer to respond. Your options become limited after those deadlines. In some cases garnishments etc. can occur. If you have questions about your situation call our office at 2813973294 or email us @ customerservice@jandbinsuranceandtaxes.com. Please click on the link to the video in this post for more information and to subscribe to our YouTube channel. Don't forget we sell insurance also. We also pay up to 100.00 per income tax referral depending on the client.