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Aggregate And Industrial Mining in Ohio
Aggregate And Industrial Mining in Ohio Each of us depends on Ohios mineral aggregate resources. Every American born today will need 3.6 million pounds of minerals, metal and fuels in his of her lifetime, including 1.7 million pounds of...
ARE MINI-SITES THE ANSWER?
Mini-sites come in different flavors but all have one significant element in common. Each site is very tightly focused upon selling a single product or service. No Flash. No graphics. No links out. No banners or advertising of any kind. Nothing that...
Dashboard to the Rescue
When you think of a dashboard what comes to mind? For most
people, the first picture that comes to mind is the dashboard in
your car. The dashboard extends from just under the inside
portion of your windshield and includes all the dials,...
Internal Prisons: The Thief of Productivity in our Workforce
INTERNAL PRISONS: THE THEFT OF PRODUCTIVITY As a professional speaker, one of my biggest challenges is to grab the attention of my audience within the first few minutes of the presentation- grab them by the throat if you will. I do this by coming...
JOB TALK--THE HEART OF PRODUCTIVITY
Read the word "productivity" and chances are you envision assembly lines, warehouses stocked with goods, even space-age machinery performing tasks at faster-than-human speed. Or if you are in corporate management, your mind recalls the U.S....
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Correspondence From The IRS Yikes!
Its a moment every person dreads. You pick up the mail and there is an envelope from the IRS. Its not a refund check. What do you do?
Dont Panic
Each year, the IRS sends out millions of correspondence audits to taxpayers to request payment of taxes, notify them of a change to their account or request additional information. These audits normally cover a very specific issue, often notifying you of additional small amounts of income for which you owe tax. Each letter and notice provides specific instructions explaining what you should do if action is necessary to satisfy the inquiry.
Most correspondence can be handled without calling or visiting the IRS. You simply follow the instructions in the letter and the matter is put to rest. Alternatively, you can contact the IRS to contest the matter. Simply call the telephone number indicated on the letter or write an explanation as to why you disagree. Make sure to include copies of any supporting documentation you want considered by the IRS. Typically, it will take the IRS between one and two months to respond. During the first quarter of the year, it can take two to three months.
Sometimes, the IRS sends a second letter or notice requesting additional information or providing additional information to you. Be sure to keep copies of any correspondence with your
records. The IRS has been known to lose track of actions involving a taxpayers account.
Worse Case Scenario
Everybody has a few really bad days in his or her life. You know, the car breaks down, you spill coffee on your shirt while driving to workyou get notice of a full blown audit from the IRS. The first step you take should not be drinking to excess or driving for the border. You have rights when the IRS comes calling and one of them is particularly important.
Representation
You have the right to be represented by an accountant or attorney at your audit. Under no conditions should you even consider going to an audit by yourself. Doing so would be like throwing red meat to a lion. Instead, spend the money to get representation and let them handle the audit. In most cases, you wont even have to go to the audit.
Nightmarish tax audits are generally a thing of the past. A letter from the IRS should not cause you to faint. Usually, the news isnt that bad. If it is, hire representation and let them handle it.
About the Author
Richard Chapo is with Business Tax Recovery - Obtaining tax refunds for small businesses for overpaid taxes. Go to our article section to discover tax strategies and deductions.
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