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STRATEGIC TAX LAWYERS:  TAX BLOG

Advice to taxpayers who may be panicking about errors on their tax returns

Tuesday, January 19, 2016

The Strategic Tax Lawyers, LLP are here to give advice to taxpayers who may be panicking about errors on their tax returns. The tax attorneys at the Strategic Tax Lawyers firm recommend that if you notice any errors on your taxes or if you have any pending tax liability due to the IRS, the best thing to do is take action immediately. These errors can be seen as a delinquent status by the IRS and this most likely is an easy fix if you follow the directions of the IRS.  Every year the IRS mails out thousands of notices to inform taxpayers or tax preparers about errors that may be a cause for concern.  A common error is with Schedule C, or the sole proprietorship form, which is used to identify a business’s profit or losses.  Many times the forms are filed by a professional tax preparer. The Director of the IRS Tax Return Preparer Office will send a letter to the tax preparers notifying them of the issue if there were a significant amount of errors found on the tax form.  Sometimes the IRS will offer the tax preparer education and assistance with the form.  This may lead to a tax audit. 


The Strategic Tax Lawyers are here to help inform you about protecting yourself from tax return errors. The most important tip is to choose a qualified and professional tax preparer that abides by the tax code. Tax preparers are responsible for ensuring that the information they file on behalf of the taxpayer is accurate and without any mistakes for income, deductions, credits, etc.  As tax attorneys, we recommend for you to review the documents that are prepared for you by the tax preparer. Ultimately, tax preparers trust their clients with the information they receive; however, it is the responsibility of the tax preparer to verify that the information that the client provides is accurate.  Neither the tax preparer nor the taxpayer should make up numbers to use on the tax return, as this is unethical.  There are consequences for providing fraudulent information on tax returns which result in tax audits, penalties and interest charges.


If you owe the IRS money due to a pending tax debt, then you should be prompt with your payment.  If you cannot afford to pay the entire sum that is due, then the IRS has options if you have a financial hardship.  As taxation attorneys, we have helped our clients negotiate with the IRS depending on their financial situation.  The best tip we can provide is to file all tax returns and pay a portion, if not all, of the amount due.  If you don’t have the money, try borrowing the money from a family member or taking out a bank loan.


The Strategic Tax Lawyers LLP are experienced IRS tax lawyers, estate planning attorneys and attorneys who have counseled clients about the protection of their assets and offshore tax havens.  These IRS tax lawyers can help you plan how to remove guesswork to prevent any issues.  The Strategic Tax Lawyers offer free and confidential consultations about estate planning, estate tax exemption, will and trusts and tax-related issues. Call today at (800) 669-4775 if you need assistance.