Brannan Law Firm |888-377-1040| Pearland Tax Attorney

For many people, tax time comes and goes and there usually aren't too many problems. For others, there always seems to be some issue that comes up that needs to be addressed. One of these mains issues is that of an IRS audit. To be sure that you take care of the problem appropriately, you will always want to consult with a Pearland tax attorney to make sure that you are taking the right steps. Audits are never fun and can be a huge pain in the neck. Here are some simple facts on audits and how to prepare for them.

First of all, the odds of you getting picked for an audit are very slim. Unless you make a substantial amount of money each year, it's almost not worth it for the IRS to audit you. But rather than hoping that you don't get audited, you should know the red flags to watch out for. The first one is that of large charitable deductions and even more extreme itemized deductions. While many people do give to charities whether for religious purposes or out of the kindness of their own hearts, you shouldn't over exaggerate it or you could run into issues.

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To help curb against any form of IRS auditing you should make sure to keep really good records. Keep all of your receipts somewhere safe where you could easily pull them up if you need to. Try to keep records of your last three tax returns so that you are organized. The other great way to help you prevent an audit is to get consultation from an experienced Pearland tax attorney that can help you to keep your finances in order. If you don't take preventive steps and find yourself getting audited anyway, then make sure to call a Pearland tax attorney to let you know what course of action take.

Tax time comes and goes and many people are left with debts that they owe to the IRS.  If you are someone that has run into a lot of financial problems, then you need to understand that there are ways to get a fresh start.  One of those avenues is through the Offer in Compromise program, or OIC.  This is an IRS payment plan that the U.S. Congress put into effect to help people who have hit a few too many financial ruts.    This is a great way for people to settle with the IRS and owe just pennies on the dollar to what their original debt sum was.  One of the best ways that you can qualify for the privilege of using the OIC is to contact a Pearland tax attorney to help you know exactly what you need to do to get accepted.  It is not easy to do, and having a professional legal expert will help to better your chances.

One thing to remember is that only about 12% of people who qualify for the Offer in Compromise program actually make it in, so be aware that there are other alternative programs that have been created to help you out.  Having a Pearland tax attorney on your side will help you to know all of your options if you get into a situation like this.  If you are able to get into the program, however, then you will soon realize that there are some huge savings.  Some people are able to get a settlement rate that is close to $0.10 on the dollar.  Some get a better rate, and others get worse.  Either way it can be a huge discount from what you originally owed.

One of the benefits of hiring a Pearland tax attorney to help you with the application process is that they will let you know if it is even worth your time to apply for the OIC.  Some people go through all of the work to apply for it all by themselves only to get rejected.   They then still owe the full amount including the fees and penalties that have been tacked on there.  The safest way to apply for an Offer in Compromise is to do so under the counsel of a Pearland tax attorney that can help you to navigate your way around all of the different tax laws that apply to these sorts of things. They will be efficient, helpful, and potentially save you thousands of dollars.

It seems like whenever tax time rolls around, people's lives automatically get busier.  Many people forget about filing their tax returns until they are already delinquent.  Sometimes there is a good excuse for it and sometimes there is not.  Other people sometimes intentionally file a tax return that has been falsified in order to try and stay up on their finances.  Whatever the situation may be, if you have filed your taxes wrong, or turned them in late, the IRS can hit you with all kinds of fees and penalties.  Sometimes these can be so drastic that you may not know how you are going to pay them all off.  Many people turn to tax penalty abatement under the direction of a Pearland tax attorney.  Having a legal professional there to help can be a huge benefit when dealing with tax issues. Having a Pearland tax attorney will let you take your claims straight to the IRS and allow you to plead your case.

When you appeal for a tax penalty abatement, you will be trying to justify your causes and relieve yourself of the added pressure of penalties and fees.  When you have a Pearland tax attorney, they will help you plead your case and give you the best negotiation that is possible.  If you try to represent yourself, it is a risky venture because you may only get one shot at the appeal.  It is better to do a little extra work, get an experienced professional to help, and then have a good shot at winning the case.  If you are able to win the appeal, then you could get the benefit of having most of the penalties waived.  If your case is good enough, you may even be able to get them all dropped.

You should know that tax penalties are a huge part of dealing with the IRS.  Every year the amount of financial penalties is increasing, and reaches up into the billions of dollars range.  The IRS will work hard to get back the money that is owed on taxes, and will even resort to bank levies if necessary.  Having a Pearland Tax Attorney to help you out with these penalties can do wonders for your stress levels, and relieve the pressure on your wallet in these financial times.  They will help you apply for the penalty abatement through a verbal interview, a written request, or just through form 834.  No matter how it is done, it is always best to leave it up to the legal professionals to take care of it.