Enrolled agents are professional tax preparers that have the knowledge, experience, training, skills and expertise in federal taxation. They are also authorized to represent taxpayers before the IRS.
Our access to current information about tax laws and regulations equips us with relevant and reliable knowledge to represent taxpayers before the IRS. Our years of experience and expertise as enrolled agents and accountants provide us with the skill to represent taxpayers that have tax issues with the IRS. With our services the following services can be addressed:
- Representing Taxpayers before the Internal Revenue Service
- Representing Taxpayers before the Department of Revenue “North Carolina”
- Taking the Necessary Steps to Resolve Taxpayers’ Tax Issues with the Tax Authorities
- Innocent Spouse Relief, Removal of Tax Liens, Levies & Garnishments
- Negotiate Settlement(s), Prepare and Present Offer in Compromise
- Set Up Installment Plans
- Assist Clients to Meet Tax Compliance
- Filing & Paying Taxes Due on Time: Taxpayers should always file their tax returns on time, regardless of whether or not taxes due have been paid in full, in order to avoid failure to file penalty. The failure to file penalty increases the amount of taxes unpaid. This makes it more difficult for taxpayers to pay the taxes owed in a timely manner.
However, the statute of limitation period does not exist if no return is filed. Therefore, the government can and will assess the tax or initiate a court proceeding to collect the amount of tax owed at any time. It is constructive to file returns on time when required.
- Failure to File & Failure to Pay: The IRS will charge interest on taxes not paid by the original due date. Taxpayers who do not file a return by the due date are liable to a 5% monthly penalty on the net tax owed. The maximum penalty for failing to file a return is 25%. If failure to file your tax return is due to fraud, the penalty rate is 15% monthly, up to 75% of the portion of understatement attributed to fraud.
- Protect and Safeguard Assets & Records: Since taxpayers are responsible for items on their tax returns, it is important to have proper records of transactions to substantiate your deductions and claims. Taxpayers should safeguard assets and maintain accurate financial records.
Taxpayers should keep all documents (including cancelled checks, receipts, and other data) that support their statements of income and deductions. These documents are necessary to prove accuracy and completeness of the tax returns to the taxing authorities. Because the final responsibility of the tax returns rests on taxpayers, it is important to review them carefully with your tax preparer before signing it.