Tax Relief Blog
Backlog on Taxes? Get A CPA for Back Taxes
Nothing can be more stressful and alarming to have found your name in the black book of the IRS. It can be a case where you owe money following an audit, or taxes due in the current year or the previous year/s, or even worse where it can be case of many years of back taxes.
Owing money to the IRS can be devastating and destroy you beyond help if left unpaid. Though it may seem cruel from your point of view but the fact is that the IRS has the right to place levies and liens against your property to make up for the tax repayment. You may question yourself-“Why me”? Well, the truth is that it is not just you but according to a study” a maximum of twenty million of Americans owe money to the IRS.
Now that you have just realized it, don’t brush this matter with a wave of your hand and say “Oh!! Then it’s ok.” NO!!! It’s not!! When faced with back taxes you need to get help as soon as possible because if you maintain a lackadaisical attitude, it could lead to seizure of your home sweet home, automobile/s, or bank account/s with serious effects on your credit. And you don’t want to see that happen, you need a CPA or EA for back taxes.
WHY A CPA or EA FOR BACK TAXES?
Working along with a CPA for back taxes is probably the most sensible decision to take. Not only that, working along with a CPA or EA for back taxes could avert you from ever needing the solutions of a tax lawyer. Anyone who has ever faced an audit knows how confusing, complex, and frustrating the experience can be. Though one may represent themselves or hire a tax lawyer for their back taxes, but hiring an EA or CPA for back taxes is the best alternative as they provide a valuable service.
An EA or a CPA has the same knowledge as well as the same practice as tax lawyers have. In addition to that they are the lower cost alternatives. Though they are the second category of tax professionals with the credentials to appear as a taxpayer’s representative before the IRS procedures, they too are adept with IRS audits. CPAs and EAs maintain and update themselves on the latest changes in IRS laws, forms and procedures with the help of their credentials that they earn with continuing education programs.
CPA or EA for back taxes are usually recommended as they have expertise and may offer the best guidance in accounting, bookkeeping services, record keeping, especially when facing complex financial situations caused by lifestyle changes such as an ugly divorce, retirement, or closing a business. To maximize one’s chances of winning a tax settlement and at the same time minimizing meeting up with the IRS agents, EAs and CPAs are the best option.
A CPA or an EA for back taxes would be beneficial as a tax professional is more experienced when it comes to the ins and outs of the tax code which will be advantageous when one files their returns especially if the EA/CPA has expertise in your area of business. Though you may have the benefit of a doubt, think it over; the U.S. tax code is over 14,000 pages long. Though it’s unlikely that the EA/CPA has read it from A to Z, you can be assured that the CPA/EA has already handled a situation like yours and knows which mistakes to avoid provided they’ve been practicing for many years.
HOW TO HIRE An EA/CPA FOR BACK TAXES?
When hiring a CPA/EA for back taxes keep in mind the following:
1. Before hiring a CPA or an EA, track his/her credentials.
2. Be wary if the CPA or EA demands that he/she be paid in full in the first meeting.
3. If the CPA or EA guarantees 100% results, back off that very moment because, there is no way the case will be an easy ride.
4. Don’t be afraid to ask “How long the CPA or EA has been working in representation”.
If you need guidance or advice pertaining to any of the above mentioned aspects, please do not hesitate to contact Mike Habib, EA, an IRS licenced enrolled agent. Mike will help you with all the issues pertaining to back taxes and represent you in IRS proceedings. At his website www.mytaxrelief.com he equips you with details of various services he offers. Get in touch with him to keep your IRS problems at bay.
