Benjamin Franklin is reputed to have said that “In this world nothing can be said to be certain, except death and taxes.”
Almost everyone knows this phrase. What is less well known is the observation by Will Rogers that “The only difference between death and taxes is that death doesn’t get worse every time Congress meets.” For example, did you know that since 2001, Congress has made nearly 5,000 changes to the Tax Code? That’s more than one change per day, and the Tax Code is now nearly four million words long!
For most people – those are scary numbers. The April 15 deadline for filing your Federal Tax Return is fast approaching. Are you prepared, or did the tax form jargon put you off? Has your tax situation become more complicated due to changed circumstances?
Now you have to make a decision, and the first thing you need to know is that you don’t have to face the problem alone. There are people who understand tax law completely, and can help you through the process. Of course, you are thinking about whether you need to hire someone to prepare your tax return, and what’s the benefit?
Tax consultants Wall & Associates, Inc. are well aware that time is money – and that includes your time. The IRS estimates you’ll need at least 16 hours to devote to record keeping, tax planning and completion for the average federal form 1040 – which is the form used by the vast majority of taxpayers.
And that time estimate assumes that you have all the material ready, up-to-date, and easily to hand. Now you’re probably thinking that a professional tax preparer could be a good idea – but what about the cost?
Well, that can vary according to a number of factors, including where you live and the complexity of your tax affairs. According to the IRS, the average taxpayer will spend under $300 to complete a federal form 1040.
There are many tax services providers on the internet but these providers do not actually complete the forms. Instead they have you fill in all the forms, and then they just forward them to the IRS. These cut-rate “experts” do little more than shuttle forms between you and the IRS. Anyone can mail in an IRS form. This so called service is not professional tax representation.
Which brings us to the second thing you need to know; E-filing.
The IRS enables you to file your tax return via computer. In 1986, the first year this service, the number of E-filings was 25,000. Since then, the IRS claim that around one billion tax returns have been filed electronically.
Of course, you have to be pretty computer savvy, and be very confident that you have complied with every requirement, and not made any mistakes Filing the basic tax return is free. But, if you have more complicated options with Schedules C or E added to the form 1040, this will cost money – maybe up to $100. So, these are the two options: file your tax return alone, praying that you got it right, or use a professional tax preparer for peace of mind.
How comfortable you feel walking away from your return (and hoping for the best) is bound to influence your decision. If you opt to go it alone, but are a born procrastinator, this is not a good combination! You might like to click HERE to find some last minute tips that can help you. If you have put things off for too long from previous years, and the IRS is “knocking at your door, ” this is the third thing you need to know:
You just have to get help from a tax debt professional.
Wall & Associates,Inc. have the level of experience necessary to best argue your case. They know the tax rules and IRS internal procedures, and are credible with IRS agents.Their extensive IRS experience means they know how the IRS thinks. They offer free face-to-face tax debt consultations, in your local area.
They can also represent you to the IRS, because facing a powerful government agency alone is really stressful. Wall & Associates, Inc. has years of experience in dealing with both IRS and all 50 state agencies. IRS Offer Specialists and Appeals Officers know that they cannot push a company that knows their rules and procedures sometimes better than they do themselves.
If you take the right approach, it’s possible to avoid tax debt stress, and you can settle your problems with the IRS before they overwhelm you.
(Please note that this article is not a solicitation for legal services)