IRS Tax Audit and Accounting
The Internal Revenue Service (IRS) or the state tax authorities can be intimidating, and most individuals and business owners would prefer to avoid dealing with their tax authorities. Having a trusted advisor to handle your case professionally is an option individual and businesses owners have to comply with their tax responsibilities and avoid the stress that a tax audit can create. At Rosillo & Associates, a U.S. Certified Public Accounting Firm, we work with the clients, IRS and other tax authorities every day, so our clients do not have to.
We assist our clients to comply with their tax liabilities, and find stress-free solutions to avoid tax surprises and anticipate taxes best possible.
Power of Attorney
If you or your business has been notified of a federal tax audit, as CPAs, we can act as your Power of Attorney to represent you. By completing the IRS Form 2848 and Declaration of Representative you authorize the U.S. Department of Treasury or Internal Revenue Service (IRS) to discuss your tax account with our firm and receive copies of important tax notices we can help to track and resolve. By completing the Florida Form DR-835 you authorize us with the State of Florida Department of Revenue. We can execute a Power of Attorney to handle most other state’s tax issues, as well.
As your authorized CPA tax representative, the federal or state tax authorities have your permission to share your confidential tax information with us, allowing us to fix tax issues on your behalf, and keeping your personal and business tax accounts in good standing. We can manage and communicate with the state and/or federal tax authorities on your behalf for only the tax forms and tax years authorized. With these forms you can limit the document by limiting the years for which your authorized representative will seek information or the task your representative will handle.
The IRS will mail communications to your home or business address for your records; however, as your Power of Attorney “authorized representative”, we can also receive the communication at our office and on your behalf and we can communicate directly with them until your tax account is solved with the tax authorities.
Audit Payment Options
The Internal Revenue Service (Federal) and even the state tax authorities offer two main payment options for individual and business who are in default with their tax liabilities and will need more than 6 months to pay off their tax debts. See which option best fits your needs and your capacity to comply with them.
Tax Debt Installment Agreement
If you owe business or personal taxes including penalties and interest to the tax authorities, you may qualify for a simple payment plan or possibly a waiver of tax debt. You will need to contact the Internal Revenue Service or State Tax Agency owed or, we can act as your authorized Power of Attorney representative, and contact them to request a payment plan agreement, on your behalf. The tax authorities will provide a schedule of monthly payments that must be followed in order to avoid more penalties and to maintain protection from enforcement to collect entire debt, at once.
Additionally, you must not file a late tax return, nor, pay your taxes late, after agreement is reached; this is necessary to maintain collection enforcement protection with an active agreement or installment payment plan for your past tax liabilities, to avoid frequent payment inquiries, tax notices, high-pressure collections, income garnishments, tax agent visits, or extreme measures such as filing of publicly recorded liens, seizure of assets, possibly redirect your customer accounts receivables payments directly to the tax agency the liability is due, and more
If you are not sure how to proceed, request our services. For a more effective meeting, please bring with you the tax notices, the related tax returns in question, and the supporting information the day of your meeting with us, so we can best assist.
Offer In Compromise Agreement
An Offer in Compromise is an agreement between you and the tax authorities that settles a tax debt for less than the full amount owed. Individuals and businesses going through a hardship have the option to negotiate with the tax authorities requesting a waiver or discount to the amount of taxes they owed. You can request an installment agreement for the remaining balance. An initial lump sum payment may be required for consideration. Applying does not necessarily mean that the tax authorities will accept your offer. They will consider your true ability to pay and financial hardships.
If you are not sure how to proceed, request our services here. For assistance, please provide us with your tax notices, the related tax return in question, and the supporting information, the day of your meeting with us.
Considering applying for the Offer in Compromise?
Either if you are considering to request a Debit Installment Agreement or the Offer in Compromise Agreement option, we are here to help you.
Negotiating a debt installment agreement may allow you to obtain a simple payment plan, if you qualify. To negotiate an Offer in Compromise Agreement, it is helpful to use the pre-qualifier tool to learn if you are eligible. To be considered, you must make an appropriate offer based on what the Internal Revenue Service or tax authorities considers your true ability to pay. To determine a new and more favorable negotiable payment terms, the tax authorities will review, evaluate, and verify your application to determine, the extent of the hardship, personal equity, and disposable income, considering any special circumstances that might affect your ability to pay. Generally, a large lump sum or short terms series of large payments must be required for consideration.
We at Rosillo & Associates will be glad to assist you. We will need all your tax notices and related documentation to support the application. Please request your appointment today!
We Are Ready to Handle Your Tax Auditing Needs
At Rosillo & Associates we understand how stressful a tax audit can be for you. Our Tax specialists are ready to take on your tax auditing needs so you don’t have to. We aim to resolve your tax matters quickly, favorably, with as little stress as possible.
Let Us Know Your Auditing Needs Today
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