IRS Determination : You Have The Right To Contest

Appealing an IRS Determination

Appealing an IRS Determination – Is It Possible?

You've just undergone an exhaustive IRS audit and your worst fears were realized. You owe money. A lot of it. Money you don't even have.  You are now left with plenty of questions  yet not a ton of options.  At this juncture, you may feel inclined to toss your hands in the air, curl into the fetal position and drown out the world, but don't give up just yet.

Businesses, no matter how large or small, have the right to contest IRS determination in tax court.  What does this mean? It means that the IRS decision isn't necessarily final. If you are able to prove your case in court, you could manage to reduce the fees or eradicate them altogether.

Great!  How Do We Start?

How, when and where you present your case is ascertained by the IRS ruling itself, but first and foremost:

Make Sure  Your Appeal is Valid – To  have your  case effectively heard, it must first fall under the rule of law, tax law in particular.  When it comes to  a tax appeal for example, you can't claim an conscientious objection or exemptions based on moral or religious grounds.   After determining  if your case falls within legal parameters, you can either file a claim using tax form 12203 (for cases where a determination of of $25, 000 or lower was made) and presenting it to the tax courts. If the determination was higher than $25,000 dollars, you will need to  file a formal protest, which is a bit more involved.  After all pertinent information if received, the courts will schedule a conference where they'll address your concerns  and assess them for validity.

Know What You Are in For – Disputing a tax assessment is not the same as appealing a civil or criminal case.  One major difference is that you won't see the individual who audited you at this point.  Rather,  an appeals officers will be assigned  to your case and the process will begin with them. Because the appeals officer is unfamiliar with your case and  may not have ties with the agent who audited you,  you could feel as if you'd have a better chance at getting heard and resolving the matter  to your satisfaction.

File Within the Allotted Time Limits – bear in mind that there is a  tiny window of time to appeal the decision, usually  30 days.  If you don't file your appeal  within the scheduled frame, you will lose the right to have your case heard.    The process is informal and can be done via letter correspondence or in face to face meetings. If you fear  you won't have time to address the case, you should consider having someone serve as  representative in your stead.

Hire a Knowledgeable  Representative – In cases where you wish to appeal an IRS ruling, it is best to hire a qualified CPA, Tax Attorney or  Agent  to go over your case and accompany you to hearings.  Someone ill equipped for the job  could end up costing you  your one chance to remove a heavy debt load from your shoulders.  If you decide to let someone speak on your behalf, be sure they have the expertise and know how to present your case well.

At the need of the day, most Americans are unaware that they can  even dispute an IRS audit ruling. If you have been audited recently, now would be to perfect time to claim your right to an appeal.  A step in the right direction would be to hire a expert CPA, such as the ones found at  GBC Income Tax Services of Atlanta.  Don't put your future as risk by doing nothing...start the appeals process and see what you can do to reverse  the decision and  get your business back on the fast track.

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READ MORE

• About GBC Services
• GBC Audit Services Website
• Visit the Internal Revenue Service's Website
• GBC Tax Income Atlanta Office
• Chartered Global Management Accountant (CGMA)
  American Institute of Certified Public Accountants (AICPA)
  GBC Services LLC, Tax Accounting Services for Atlanta GA
  GBC Press Release : MORE

Facing the Dreaded Audit By The IRS

The Dreaded IRS Audit - What Actions You Should Take

The IRS has targeted you and your company for a comprehensive audit. 

You've done everything  humanly possible to avoid it, but  your worst fears have been realized. Before you  fling  yourself headlong into panic mode and start checking out real estate in Tahiti, relax. An audit  isn't necessarily the end of the world, especially if you know what to do  in preparation for one.

Great – I am Being Audited – Now What?

An audit can be particularly stressful for  both employer and employees alike.  While the business  owner worries about potentially  being fined, paying exorbitant fees or worse, going to jail, dependent  workers wonder if they could lose their primary source of income should the business go under.
With so much at stake, corporation undergoing a tax audit will need to ensure they have everything on hand to make the process go as smooth as possible.

Gather all pertinent file, records  and documents –this is  the most important aspect of preparedness that cannot be stressed enough. The inability to a locate or present documents  can provide IRS agents with enough fodder to fine   you or claim criminal intent on your part.   Indeed, companies that are able to provide relevant records and books are least likely to face serious consequence after an exhaustive audit.

Do Your Home work – A little research can go a long way in not only helping you feel more secure, but in educating you on what you will need throughout the IRS auditing process. One thing that may surprise you is that the IRS aren't the big evil boogeymen they are made out to be, in fact, they   will and often do consider the fact that employees are prone to human error.  At the end of the day, only a small handful of audits result in serious  citations, fines or arrests.    With that in mind, remember that  they will and often will pursue anything they think to be grossly out to of proportion with the facts presented.

Take a Deep Breathe and – Relax! – The last thing you want to do is raise suspicions that  you have something to hide by acting overly worried. That is not to say pretend everything is A-Okay—just don't get super worked up. Stressing over the matter won't help things anyway, as the best way to ensure you  are going to “beat the system”   is to  do everything in your power  to legally increase the odds of a positive outcome. Seeking the advice of  a well respected accounting firm like GBC Tax Services of Atlanta is one way to  do this.  By outsourcing, you can  go over what needs to be done prior to the IRS agency visit. You  will also be better equipped to ferret out potential problem and solutions before the big day arrives.  In any case, it is always wise to go with  proven experts in the field of accounting  so you know you  you'll be ready when the Tax man comes a-calling.

Once you’ve decided on an expert CPA,  you can have them represent you or be a  part of the process alongside you. In either case, it makes more sense to have a proven and trusted CPA at your side who will help you protect everything you're carefully built. They can also  help you  if you don't like the IRS determination, by taking your case to  tax court on appeal.

But no matter the outcome, it literally pays to do your homework.  Avoid  common business  pitfalls that  lead to  a  negative result after Internal Revenue evaluation by being  proactive on your own behalf. It is the only way to win at life as well as beat tax audits.

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READ MORE

• About GBC Services
• GBC Audit Services Website
• Visit the Internal Revenue Service's Website
• GBC Tax Income Atlanta Office
• Chartered Global Management Accountant (CGMA)
  American Institute of Certified Public Accountants (AICPA)
  GBC Services LLC, Tax Accounting Services for Atlanta GA
  GBC Press Release : MORE

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READ MORE GBC Tax Services Website
For All Your Accounting Needs Call GBC 678-366-9232

What Home Businesses Need to Know About Auditing

Learn What You Can Do To Beat An IRS Audit

The factors that contribute to home business complications primarily concern keeping adequate, substantial records that indicate the influx of money alongside reasonable deductions that won't get you flagged for an audit.

Operating a  small business  can be  productive and exhilarating, but such proprietors  face a bevy of  issues that are unique to  “mom and pop” establishments. Add to this the fact that the company is operating from your home and things get even trickier. 

For instance, writing off  an off-site office as a business expense is a no brainer, as  one can establish the need to pay rent,  electricity, water and any other related  employee housing disbursement.  When it comes to  a home office however, you have to detail, with all due precision, the increments in which one uses things such as  supplies, water, lights,  and even the internet for business related purposes.  Some  may calculate erroneously and in  some cases fraudulently,  so more often than not, writing such things off can and/or  may  lead to an IRS audit.

How Would a Home Business Get Pinged for Audit?

The IRS considers and evaluates a home business  as it would any other,  while being aware of the limitations of such companies.  In other words, the criteria may remain the same but not the methodology  to factor in potential abuses or mistakes in reporting.

DIF Scoring  Rings Audit Bells   –  if there are enough red flags on your tax return, you could trigger what is known as a DIF  (Discriminatory Index Function) flag.  The DIF is a mathematical measurement that weighs  the possibility of audit based on certain income tax filing characteristics. In other words, if too much is out of whack on the form, it will trigger a high enough DIF to provoke an investigation.  This process is utilizes for all types of businesses, but can be problematic for home businesses, where certain nuances, like business expenses and home office space calculations, can be hard to assess properly.  With this being the case, even a mindful home business owner can  land themselves in IRS hot water.

Regular and Exclusive – Another issue, as discussed previously, is duly calculating the home office space, its requirements and  uses.  Getting this precisely right is important, as the IRS determines home office use in its tax audit assessments.  The evaluation  examines how  “regular” and “exclusive” office use is in relation to  home versus business life.  In order for a home office to  establish “office/ work viability” the IRS has to look at how regularly the room is used for business and how exclusively it is used for said business purposes.  For this reason, there are things one can indicate on  one's tax form that could give an agent the notion to investigate the in home set up. This would involve  making sure the small business owner  observed governmental and tax guidelines, like dedicating the space for work alone e.g. no watching Netflix and  having movie nights in the home office.

Examination of 1099 and W2's – a simple yet effective way that IRS agents can assess probable issues is by comparing  1099's or  w2's to the tax documents  themselves. This easy method of matching will tell an agent right away if there are any pertinent discrepancies in income reporting.

Beat the audit by looking for deductions – If you find yourself in the cross hairs of an IRS audit, it may very well pay to look for deductions wherever you can.  Many home business owners do  not now  for instance that they can write off things like utilities  and even business related phones calls.  If you have  relevant records on hand, they may be  able to be used to offset any taxes the IRS may calculate against you.

Locate  a Reputable  CPA – strong credentials  matter, so if your small home business is facing IRS scrutiny, contact a company like GBC Income Tax Service of Atlanta  and learn what you can do to beat the odds and increase your chances of a positive outcome.

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READ MORE

• About GBC Services
• GBC Audit Services Website
• Visit the Internal Revenue Service's Website
• GBC Tax Income Atlanta Office
• Chartered Global Management Accountant (CGMA)
  American Institute of Certified Public Accountants (AICPA)
  GBC Services LLC, Tax Accounting Services for Atlanta GA
  GBC Press Release : MORE

Estimate Your Tax Liability With Jackson Hewitt's Tax Calculator

Income Tax Calculator

Estimate your income tax return free of charge. These free online income tax calculators help you to estimate your federal tax liability ahead of time.

Take measures to ensure there is no unexpected surprises. 

Estimating your tax liability ahead of time can dramatically reduce your anxiety and stress during the tax season. It allows you to quit worrying about what your tax bill will be and focus on meeting your financial obligation. You can then prepare your tax return without that stress hanging over your head.

READ MORE : Jackson Hewitt Tax Calculator

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GBC Tax Services Website
For All Your Accounting Needs Call GBC 678-366-9232
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READ MORE

• About GBC Services
• GBC Audit Services Website
• Visit the Internal Revenue Service's Website
• GBC Tax Income Atlanta Office
• Chartered Global Management Accountant (CGMA)
  American Institute of Certified Public Accountants (AICPA)
  GBC Services LLC, Tax Accounting Services for Atlanta GA
  GBC Press Release : MORE

Human Resource Managements Services Offered by GBC Services Atlanta GA

Small businesses benefit from HRMS services.

In response to demand for increased technology solutions from its clients, GBC Services LLC announces that it has chosen to extend its Payroll and HRMS offerings.

GBC will be offering an all-inclusive, affordable package that will now include web-based HRMS, Employee and Manager Self Service.

GBC Services of Atlanta offers valuable expertise to companies of all sizes that seek to outsource their Payroll services to a company with a great reputation and excellent service record.” GBC Services’ knowledge and experience, coupled with their solid and robust HRIS / PR technology, can provide a small or mid-size company with an affordable, superior product, normally only available to the larger enterprises.

GBC Services is a committed Payroll Services company with lots of experience that serve small to midsize Southeast businesses very well.

GBC Services is now offering their all inclusive, low-cost single priced package under the product name of “GBC Professional Level Payroll and Human Resource Management System”.

• Flexible and Convenient Payroll Services Options
• Download Commonly Used Tax Forms
• Convenient Human Resource Management Solutions 

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Call GBC Income Tax Services today at 678-366-9232 for all your tax and IRS needs!
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• GBC Payroll Services' Website   
• About GBC Services
• Payroll Taxes and Your Business
• Helpful Payroll Related Articles
• GBC Tax Income Atlanta Office
• Chartered Global Management Accountant (CGMA)
  American Institute of Certified Public Accountants (AICPA)
  GBC Services LLC, Tax Accounting Services for Atlanta GA
  GBC Press Release : MORE

E-Verification For All Your HRMS Needs

Companies big and small use E-Verify employer agents.

GBC Tax and Payroll Services are now offering E-Verification for all your HRMS needs.

E-Verify employer agents, formerly called designated agents, use E-Verify to confirm the employment eligibility of another company's employees in regard to their immigration status.

Our E-Verify employer agents may also handle payroll and other administrative tasks that include managing the Employment Eligibility Verification (Form I-9) process. It’s a typical part of a Human Resource Management and Payroll Service we offer through GBC. Companies or small businesses that are mandated, (or who choose, in some states), to participate in E-Verify have the option to have a E-Verify employer agent use E-Verify on their behalves and deal with the red tape for them.

Companies big and small use E-Verify employer agents for many reasons; in the state of Georgia it is usually required by law.

Call on us to handle your e-verification, along with your payroll and human resources management, and eliminate any troubles that could ensue!

GBC Tax and Payroll Services, Certified Public Accountants is located at:
1950 North Park Place SE, Suite 150, Atlanta, GA 30339.
Telephone: 678-366-9232
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• GBC Tax Offers Atlanta Experienced IRS Representation
• Essential Financial Services
• Tax Requirements By State
• Visit the Internal Revenue Service's Website
• GBC Audit Services

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Atlanta Georgia Income Tax Preparation,
With GBC Services income tax preparation services, you can rest assured that your taxes will be done right and on time every time.
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