Wednesday, August 25, 2010

Tips on how to handle the IRS - Brought to you by The American Institute of Professional Bookkeepers (www.aipb.org)

Has your company or client ever heard from the IRS? Sooner or later they probably will. If you are like our 30,000 members, you may be the one expected to deal with the IRS.

Send any correspondence to the IRS via certified mail, return receipt requested.

Always maintain a good audit trail—all correspondence relating to the notice, such as
copies of canceled checks, receipts, tax returns, and letters.

If the IRS does not respond within 6 weeks (8 weeks at most), send the IRS a copy of the correspondence, write “Second Response” on the top, and include the date of your first response. Tip: Include clearly marked copies of all prior correspondence with the IRS.

If you do not resolve the problem in three attempts, use the IRS Tax Payer Advocate's
office.

If you realize that you owe money and it was an honest mistake, ask for an abatement of penalties. Intent and past “good faith efforts” to make timely deposits may well result in penalties being abated.

Read entire article here!

For more information, contact Elite Bookkeeping & Tax Services at (800) 416-3820 or (775) 884-6188 Address: 123 West Nye Lane, Suite 103, Carson City, NV 89706. Visit our website at www.elitebookkeeping.biz

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