Pay What You Legally Owe in Federal Taxes, But Pay No More!
As an American citizen, you are required to pay a portion of your income for federal taxes, but no more than the tax code requires. On the other hand, if you pay too little, then penalties and interest apply and you tax rate just increased. How do you handle this situation? Enrolled Agents are America's Tax Experts, and uniquely qualified to help you navigate this complex journey. Click on the Enrolled Agent tab on the top menu or here to read about this federally licensed profession. All tax professionals at U.S.Federal Tax Experts are Enrolled Agents. Start preparing for your 2012 income tax return now by contacting us and perhaps doing some basic tax research at the official IRS site.
Do You Speak IRS? If No, Don't Speak and Get Help.
If you get a Federal Tax notice from the IRS, think twice before engaging in any direct conversation with the IRS about this notice. Contact a tax professional to learn more about what can go wrong, and explore your options. The U.S. Tax Code is extremely complex, and even professionals can be challenged at times with the tax laws.
If You Do Decide to Talk
This is not recommended but here are three musts:
1.Do not lie about anything they ask. This is a criminal offense and you could end up in jail.
2. Do not volunteer information. Provide answers only for the specific inquiry.
3. Do not attempt to answer any question that you do not completely understand.
Tax software for consumers has been around for a while now, and seems to make the tax filing process simpler and very cost effective. There are many opportunities for errors using the software,however, when one does not understand the actual tax rules. The IRS will be quite unforgiving when you tell them that the software made a very large mistake and you are not to blame.