IRS AUDITS- WHAT YOU SHOULD KNOW www.advancetaxrelief.net

An Audit is the Process by which the IRS determines whether you properly reported all income - from earnings and investments-and took the correct deductions, exemptions, and credits. If the IRS finds that you didn't, you will be assessed additional taxes, interest, and -usually-penalties.

An assessment is the formal entry of a tax liability in your records.

To do its job, Congress has given the IRS wide powers to inspect your financial records and to ask you and others about your financial affairs, to determine whether you are cheating UNCLE SAM (Internal Revenue Code 7601 & 7602).

Proving the correctness of your tax return may not be that easy. The IRS wins over 80% of all audits, mostly because taxpayers cant properly verify the information on their tax returns. IRS Auditors say that the biggest reason for Adjustments is poor recordkeeping, not taxpayer dishonesty. This article contains general information for taxpayers and should not be relied upon as the only source of authority. Taxpayers should seek professional tax advice for more information or contact Advance Tax Relief LLC

Noah Daniels, EA is the President of Advance Tax Relief LLC based in Houston, TX. Noah is very experienced in representing taxpayers before the examinations and collections divisions of the IRS and various state taxing authorities. For speaking engagements email noah.daniels@advancetaxrelief.com.

ADVANCE TAX RELIEF LLC - "WE SOLVE YOUR TAX PROBLEMS"

8449 W. BELLFORT, SUITE 356

HOUSTON, TX 77071

www.advancetaxrelief.net

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SELF EMPLOYED? YOU'RE A PRIME IRS AUDIT TARGET www.advancetaxrelief.net

SELF EMPLOYED? YOU'RE A PRIME IRS AUDIT TARGET

Because the IRS claims that most tax cheats are self employed, it is not surprising that this group is more scrutinized than wage earners. The IRS Small Business/Self Employed Division is the biggest of all with at least 40,000 employees.

When you own a business, know that the IRS is watching. The three major concerns of the IRS are:

1. Are workers wrongly classified as independent contractors when they are legally employees?
2. Is the business making payroll tax deposits?
3. Are all transactions-especially large cash transactions- made to the business being reported to the IRS?

If the IRS choose to come after you by way of an audit- or worse, a criminal investigation- be aware that it can easily get to your bank and other financial records. So, if you've been foolish enough to deposit unreported income in your bank account, the IRS can find it.

If you are audited, the IRS will want to know:
1. Did you report all of your business sales or receipts?
2. Did you write off any personal living expenses as business expense?
3. Does your lifestyle apparently exceed the amount of self-employment income reported.
4. Did you write off automobile expenses for travel that was not business related?
5. Did you claim large business entertainment expenses?

If you are self employed and audited, give us a call today at 1(800)790-8574 or contact us via www.advancetaxrelief.net

ADVANCE TAX RELIEF LLC - We Solve Tax Problems
8449 W. Bellfort, Suite 356
HOUSTON, TX 77071
www.advancetaxrelief.net

PHONE: (800)790-8574, (713)300-3965

Follow Advance Tax Relief on twitter: @IRSTAXPRO

TAX PROBLEMS???? READ THIS!!!! www.advancetaxrelief.net

IRS PROBLEMS? WE CAN HELP! 15% OFF!
FREE CONSULTATION 1(800)790-8574

1. UNFILED TAX RETURNS
2. WAGE GARNISHMENTS
3. SCARY IRS LETTERS
4. AUDIT REPRESENTATION
5. TAX LIEN RELEASE etc

ADVANCE TAX RELIEF
WE SOLVE YOUR TAX PROBLEMS!

Speak to an Enrolled Agent, CPA or Attorney today!

www.advancetaxrelief.net


BBB ACCREDITED BUSINESS

IRS TAX PROBLEMS?? FEDERAL TAX LIENS www.advancetaxrelief.net

A lien is a legal claim against all of a taxpayer’s current and future property. When a taxpayer doesn’t pay the first bill for taxes due, a lien is created by law and attached to the taxpayer’s property. It applies to property, such as a home and car, and to any current and future rights the taxpayer has to the property.

Notice of Federal Tax Lien: A Notice of Federal Tax Lien... gives public notice to creditors. The IRS files the Notice of Federal Tax Lien to establish the priority of claim versus the claim of other creditors. The Notice of Federal Tax Lien if filed with local or state authorities, such as county registers of deed or Secretary of State Offices.

If a Notice of Federal Tax Lien if filed against a taxpayer, it’s often reported by consumer credit reporting agencies. This can have a negative effect on a taxpayer’s credit rating and it difficult to receive credit.

Appealing a Notice of Federal Tax Lien: Within five business days of filing the Notice of Federal Tax Lien, the IRS will send the taxpayer a Notice of Your Right to a collection due process hearing. The taxpayer will have until the date shown on the notice to request a collection due process hearing with the Office of Appeals.

If you received a notice of Federal Tax Lien, contact us today.

ADVANCE TAX RELIEF LLC - WE SOLVE TAX PROBLEMS
8449 W. BELLFORT, SUITE 356
HOUSTON, TX 77071

Fill out the contact form on our website and an IRS Enrolled Agent , CPA or Tax Attorney would contact you for a free consultation. www.advancetaxrelief.com

PHONE: (800)7908574
Local: (713)300-3965

Follow Advance Tax Relief on twitter: @IRSTAXPRO

PROPERTY THAT CANNOT BE SEIZED BY THE IRS

1. Unemployment Benefits
2. Certain annuity and pension benefits, certain service-connected disability payments.
3. Workers Compensation.
4. Certain Public Assistance Payments.
5. Minimum weekly exempt income.
6. Assistance under the Job Training Partnership Act.
7. Income for court-ordered child support payments.
8. Necessary school books and clothing.
9. Undelivered Mail.
10. Certain amounts worth of fuel, provisions, furniture and personal effects for a household.
11. Certain amounts worth of books and tools for trade, business or professions.

IRS PROBLEMS? WE CAN HELP!

ADVANCE TAX RELIEF LLC - WE SOLVE TAX PROBLEMS
8449 W. BELLFORT, SUITE 356
HOUSTON, TX 77071

Fill out the contact form on our website and an IRS Enrolled Agent, CPA or Tax Attorney would contact you for a free consultation. www.advancetaxrelief.net

PHONE: (800)7908574
Local: (713)300-3965

Follow Advance Tax Relief on twitter: @IRSTAXPRO

FIRST TIME HOMEBUYER - BUY OR RENT

Homeownership is a dream of many Americans. Whether it is economically more beneficial to rent or buy depends on many variables, including whether home values are rising or falling, how long the indiv...idual plans to stay in one location, and whether or not the individual is willing to take on the responsibility of maintaining the upkeep on a home. However, the tax benefits available to homeowners can provide significant savings. The advantages of owning or renting are different for everyone so each individual's situation needs to be evaluated before the decision.

APPLICABLE TAX LAW.
1. Real estate taxes are deductible as itemized deductions if the taxpayer owns the real estate and the taxes are based on the assessed value of the property.
2. Premiums paid for acquisition indebtedness for mortgage insurance contracts after December 31, 2006 and before January 1, 2012 may be treated as deductible mortgage insurance.
3. Home mortgage interest paid, including acquisition debt and home equity debt, may be deductible as an itemized deductible as itemized deduction.
4. Deductible points paid at closing to purchase a home are generally deductible as mortgage interest.
5. If the seller pays points, the buyer is treated as having paid the point for purposes of an itemized deduction.
6. Individuals can exclude up to $250,000 ($500,000 MFJ) of gain on the sale of a qualifying principal residence

IRS PROBLEMS? WE CAN HELP!

ADVANCE TAX RELIEF LLC - WE SOLVE TAX PROBLEMS
8449 W. BELLFORT, SUITE 356
HOUSTON, TX 77071

Fill out the contact form on our website and an IRS Enrolled Agent, CPA or Tax Attorney would contact you for a free consultation. www.advancetaxrelief.com.

PHONE: (800)7908574
Local: (713)300-3965

Follow Advance Tax Relief on twitter: @IRSTAXPRO