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Posted by Horizon Client Services, LLC

Your Income Tax and Bankruptcy

Your Income Tax and Bankruptcy

Many taxpayers are worried that they will have to deal with an audit at some point. They may feel that there was something a little off with the tax return or they know of other people who have gone through this process. When the IRS comes after you, it is a scary feeling and it is important that you get the right team on your side from the start. When you hire a professional from Paul Vanderbosch, CPA, you are getting the very best. Our professionals will take over your tax return and ensure that you are filling it out correctly. If the IRS does come after you for some reason on your tax return, we will stand behind you the whole time and walk you through the auditing process. Don’t handle this all on your own and potentially make things worse, contact our offices to get the support and help that you need.


Keep All Your  Paperwork


It is important that you keep all of your paperwork for as long as possible after you are done with your tax return. While you may think it is fine to throw it all away when the tax return is done, this could cause a lot of extra work in the process. If you are audited in the future and you do not have the right paperwork, you are going to have a long process ahead of you. You will be required to send in for another copy from your employer as well as any other information that you are going to need. This could take some time and you could really slow down the process and make trouble.


Rather than letting this happen, make sure to hold onto your papers for as long as possible. It is usually recommended that you keep those papers on hand for at least three years. This is usually as long as the IRS is going to have to do an audit. After three years, it is safe to throw the papers out.


Don’t Leave Our  Information

 

If you leave out important information knowingly, you could be in trouble when it comes to an audit. The IRS is going to take a look at your tax return and if they see that something is blaringly obvious and you didn’t put any information into it, you are going to get an audit. Even if you keep it under the radar and aren’t caught right away, the IRS does do periodic audits just to make sure that people are being honest. If they catch you in this way, you are going to have some years of paying back taxes and fees that you never did before.


So you will need to make sure that you are getting all the information in correctly. Wait for all of your forms to show up in the mail before you even get started. Some people may get excited and finish the tax return right away. When they get another piece in the mail, they assume it is not important and just leave it out. But this could be enough to get you into even more trouble in the long run. Make sure that you are getting all the information in correctly so you have the best chances of avoiding an audit.

Dealing with all this information can be a challenge. Don’t try to do it alone. There are many great tax professionals, like those at Paul Vanderbosch CPA who are here to help. They will be able to take a look through your tax return and all your paperwork and will take the time to get it all put in right.


Hire a Professional  to Help

 

Dealing with an audit can be scary, but when you have a professional on your side, you can make things so much easier than trying to do it on your own. The first step is to hire a professional who is going to help you with your tax return from the very beginning. These individuals will know all the ins and outs of getting the tax return done, and will ensure that you are getting the help that you need in no time. Think of all the money that you can save going with a professional during tax season when they find a ton of deductions and credits that you missed out on in the beginning.


In addition to making it easier to get your tax return done on time, these professionals, including those at Paul Vanderbosch CPA, will be able to offer audit support on their work. This is going to help you rest easy knowing that someone is there to help you out in case the IRS decides to take a closer look at your tax return.


Going through the auditing process take some time and a certain amount of knowledge of the system in order to get through. You should never try to go through this process on your own. If you are worried about having to go through the audit or you want to make that you never run into this issue, make sure to contact Paul Vanderbosch with Paul Vanderbosch CPA in Cincinnati, OH. Our professionals will be able to take a look at your taxes and ensure that you will be protected from an audit support when you work with us. Contact us today to get started.

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