Business Taxes:

Business Filing Due Date – March 15

Filing taxes is an important part of running a business! The filing due date for businesses differs from the dates for individuals!  The due date to file taxes for an S Corporation, LLC or a Partnership is 03-15. If you need a tax extension, the date for tax extensions is also on March 15th. IRS Audit Group will help you file your business taxes, and even your individual taxes. We can explain the tax filing processes to taxpayers and businesses owners. With a quick phone call, you can understand how filing taxes can affect your business and the importance of filing business taxes on time.  

Tips

Income Tax:

All businesses must file a yearly income tax return. Federal income tax is pay as you go. If an employee does not have money deducted from each paycheck, they may have an estimated tax.

Estimated Tax:

If a business is expected to owe a tax of $1,000 ($500 for corporations) or more when they file their return, they usually might have to make estimated tax payments. We can help you figure out what your estimated taxes are.

Self Employment Tax:

Self Employment tax is generally a social security or medicare tax for individuals who work for themselves. If your net earnings were $400 or more, you must pay self employment taxes.

Employment Tax:

If you have employees, there are certain tax related documents that you must file with the IRS.

IRS Audit Group

Why Choose Us:

IRS Audit Group was formed with one goal in mind – to be a one stop shop for all tax needs. We understand that many tax issues can arise for taxpayers, especially new ones! Many issues can arise with taxes, including filing taxes, getting extensions, and even help you with audit or any tax liability We are a team of Tax Professionals, CPA’s, Enrolled Agents and Tax Attorneys who can help you with any tax issue that you have. We understand how complicated it can be to get tax help, so we make the process as simple as possible. We explain every step of the processes with our clients, and we make sure to keep them updated as the process moves alone. We assure our clients that they can reach out to us at any time to ask questions. We make complicated processes look like a breeze.

Contact Us:

As a taxpayer, you deserve proper representation. We understand how hard it is to navigate through all the issues that may arise in regards to taxes, which is why we are here to help you. IRS Audit Group will help you file your business taxes on time! Regardless of the specifics, we will be there for you anytime you have an issue relating to your taxes. You can read more about us by visiting our website at irsauditgroup.com. Our office can be reached by email at [email protected]. You can call one of the representatives at our office at 1-888-300-6670. You can even drop by one of our beautiful offices. Our Beverly Hills office is located at 468 N Camden Dr, Beverly Hills, CA 90210. Our Newport Beach office is located at 2901 West Coast Hwy, Suite 200, Newport Beach, CA 92663. Contact us today to get the representation you deserve!

IRS Audit Group:

Why Choose Us:

IRS Audit Group was formed with one goal in mind – to be a one stop shop for all tax needs. We understand that many tax issues can arise for taxpayers, especially new ones! Many issues can arise with taxes, including bookkeeping, filing taxes, getting extensions, and even getting in trouble with the Internal Revenue Service.

We are a team of Tax Professionals, CPA’s, Enrolled Agents and Tax Attorneys who can help you with any tax issue that you have. We understand how complicated it can be to get tax help, so we make the process as simple as possible. We explain every step of the processes with our clients, and we make sure to keep them updated as the process moves alone. We assure our clients that they can reach out to us at any time to ask questions. We make complicated processes look like a breeze

What We Do:

Tax Audit Representation

The IRS may audit anybody at anytime they please. Going through an audit without a professional is a risky process. The IRS is trying to take money from people – remember that. If the IRS realizes that a taxpayer is going through the audit process without proper representation, they will definitely take advantage of the taxpayer. The team at IRS Audit Group can represent audited taxpayers and walk them through every step of the process.

State Audit Representation

The IRS is not the only agency that can audit a taxpayer. States can also audit taxpayers for their share of taxes. Agencies such as the California State Tax Audit and the Board of Equalization can also inquire about the taxes you filed. Like the IRS, state tax agencies can also take advantage of unrepresented taxpayers. Trust IRS Audit Group to give you the taxpayer representation that you deserve against the state!

Other Services

Other than Audit Representation services, IRS Audit Group can provide taxpayers with a bevy of tax related services. These services include –
• Individual Income Taxes
• Business Income Taxes
• Offshore Accounts and Foreign Bank Account Reporting (FBAR)
• Tax Penalties
• Employment Taxes
• Estate and Gift Taxes
• Payroll Taxes (Trust Fund Recovery Penalty)
• Employee vs. Independent Contractor Classification

Contact Us:

As a taxpayer, you deserve proper representation. We understand how hard it is to navigate through all the issues that may arise in regards to taxes, which is why we are here to help you. Regardless of the specifics, we will be there for you anytime you have an issue relating to your taxes. You can read more about us by visiting our website at irsauditgroup.com. Our office can be reached by email at [email protected]. You can call one of the representatives at our office at 1-888-300-6670. You can even drop by one of our beautiful offices. Our Beverly Hills office is located at 468 N Camden Dr, Beverly Hills, CA 90210. Our Newport Beach office is located at 2901 West Coast Hwy, Suite 200, Newport Beach, CA 92663. Contact us today to get the representation you deserve!

IRS Tax Refunds

Why It’s Not Smart To Get A Big Refund Every Year:

The Government:

The government collects taxes from taxpayers at a rate that is affected by multiple things. Your withholdings and your income can affect your withheld taxes. The annual tax return is the money the IRS gives back to you after they have counted all your taxes. This essentially means they are giving you back the money they were never supposed to take in the first place. A big tax refund sounds good, but it’s not. A big tax return means that the IRS has taken more money from you than they were supposed to take!

How To Avoid This:

There are many ways to avoid the IRS taking too much money from you. The first tip we would give you is review your withholdings. There are many things that can be considered withholdings, including your home, the investments you’ve made, or life changing events. If you own a home, you can claim your mortgage interest and property tax deductions! If you own an investment property, you can claim the expenses the property has costed you. Big life events, such as a divorce or a new child can also affect your tax information. Every taxpayer is different! Call us for a free consultation with a IRS lawyer. If you can’t do either of these things, then consider the tax return a savings plan. Put all that money into savings, and act like the IRS took it for good. If you need any more help with your tax returns, call IRS Audit Group at 888-300-6670 today!

IRS Audit Group:

What To Do?

The low tax returns are some of the benefits that are coming into effect as part of the Tax Cuts and Jobs Act. This is the biggest piece of tax legislation in the past thirty years, and as a result, it’s important to understand how they may affect you during the 2019 filing season. We can help you with all your taxpayer needs, including figuring out your tax return information, or any other questions about IRS or taxpayer procedures.

Contact Us:

Contact us today for help with any IRS related issue, including your tax return.  and much more. Contact us at 1 (888) 300-6670 to get in touch with one of our friendly team members who can answer all of your questions. You can visit us at IRSAuditGroup.com or email us at [email protected]

Although being audited is unlikely, it can still happen and you do not want to be one of them. Sometimes the IRS audits at random but on other occasions it is because they have spotted an inconsistency in your returns. To avoid this and lower your chances of getting into trouble with the IRS, be mindful of these tips.

• Report all income – Be sure that ALL your income is reported, not just the money you have made from your job or employer. Any money you have acquired needs to be reported on your forms.

• Hire an Accountant – We are happy to help and are able to field all your questions while also making sure that all of your income and deductions are reported properly. The less error, the less chance of being audited.

• Do not round your figures – Perfect numbers where you have spent exactly $200 or have earned exactly $50,000 catch the IRS attention since it is highly unlikely that this is the case. Be sure to document down to the penny of how much you spent or made.

• Check your math – This is super important since simple math mistakes can throw off all your numbers. Check your math and be sure that everything is added and subtracted as it should be and that your figures make sense.

• Back up Deductions – It is important to make sure that all of your deductions have appropriate support in order to prove that the deductions are actually valid. This includes receipts, odd figures and low income catch the IRS eyes.

• File on Time – Filing late is a red flag, amended tax returns go through a screening process and tend to be audited more often than returns that are filed on time.

• Document Alimony Payments – Alimony payments are considered taxable but are considered deductible if certain expectations apply. To get the entire list, check the IRS website.

• Be Careful when Claiming Business Use of a Vehicle – Chances are you do not use your vehicle only for business purposes, unless you have a separate vehicle all together. When you use it as a deduction be sure you have proper documentation that proves that the vehicle was used solely for business purposes.  

• Be Thorough and Meticulous – Check all of your documents and returns to ensure that they are as accurate as possible. All numbers should be accurate and make sense, as well as deductions. Be sure that ALL income is reported and any money you acquired is accounted for. The less mistakes the better.

Need Assistance?

We are a team of Tax Attorneys, CPA’s and Enrolled Agents with over 15 years of experience in Tax Audit Representation. Erez Solomon, our CEO, is a lawyer license to practice in Israel and has a background of international taxation and tax law. Give us a call today for a free consultation.

Tax season is rapidly approaching, and you, like many other taxpayers are busy making a living and overwhelmed by having to report how much you’ve earned. At IRS Audit Group, we wish to make the entire process easier and are even going a step further by delivering a post that will cover all the steps you should take to properly prepare for tax season. It is never too early to prepare and the earlier the do, the easier tax season will be.

Gather personal documents and last year’s documentation This will make doing your taxes a lot easier by having everything in one place before you even start. Some of this documentation includes your social security card, or the number, or a tax ID card. Also, your driver’s license or some of other valid ID is necessary when coming to your appointment. Be sure to bring your spouse’s information as well. Next, make sure to have last years returns, both for you and your spouse if applicable. If you have dependents that you plan to claim you will need some documentation for them as well. This may be their social security numbers, dates of birth, child care payment records, Form 8832 (which is the non-custodial parent saying they will not claim the dependents), any alimony payments, and death certificates.

Tracking your Income This occurs in many forms depending on employment. If you are employed, your W-2 will have all your income documented. If you are unemployed then Form 1099- G is used where all benefits must be reported. Form 1099 is for freelance work and misc income. Other income forms and what they are needed for can be found on the IRS website. While you are at your appointment we will discuss any deductions that can be made so please come prepared with a few in mind and proof of those deductions.

Have Financial Info Ready Knowing your account numbers is necessary in order to have your refund deposited. This can either be found on mobile banking sites and apps or your checkbook.

Prepare some Questions If you are unsure of anything or still are wondering how to best prepare for tax season, give us a call. We are here and happy to help. Offering a variety of tax services, it is our goal to take the stress of taxes away and make it as easy as possible. If you have been audited, it can be intimidating, however our professionals are here to guide you and clear up the process.

Need Help? We have a variety of options for you to get in touch. You can either call, live chat, or email us and one of our certified tax professionals will respond as soon as possible. We are eager to help and can assure you that speaking with one of our tax professionals, whether that be a CPA, Enrolled Agent, or Tax Attorney, will give you the answers you have needed. Also, we are proud to offer a free tax consultation regarding your IRS or state audit, call now!

The Start of Tax Season

Tax season officially begins on January 28th, 2019. As we’ve covered previously, despite not having started yet, it’s already turning out to be a very interesting tax season given all of the new reforms taking effect this, the new universal 1040 form, as well as the ongoing government shutdown. Fortunately, the IRS has answered, at least partially, the question everyone has been asking by letting taxpayers know that even with all of the craziness, refunds will be sent out on time.

Getting Your Tax Refund

Many taxpayers want to know what they can do to ensure they receive their refund as fast as possible. Though the IRS has said that most refunds are sent out within 21 days, some taxpayers have reported getting their refunds even faster. Below, our experts at IRS Audit Group suggest a few things taxpayers can do to ensure that they receive their refunds as fast as possible. The general rule of thumb is the sooner you file your taxes after the start of tax season, the sooner you will receive your refund. That said, there are many other factors you should also consider.

E-File Taxes Instead of Filing Paper

The IRS has repeatedly stated that they prefer taxpayers use the e-file feature instead of filing by paper. The IRS is able to process returns that have been e-filed compared to filing by paper, which they have to process manually. Especially considering the reduced staff that the IRS is operating with as a result of the government shutdown, these paper returns will take even longer to process than they usually do (typically about four weeks).

Opt for Direct Deposit

Another way of ensuring that there’s no delay in receiving your refund is by opting for the direct deposit option. Papers checks take longer to create, and in addition, mail out. If there are any mistakes in your direct deposit information, the IRS will automatically mail you a paper check.

Check for Superficial Mistakes

Finally, while it may obvious, we cannot overstate the importance of making sure there are no silly mistakes or errors when you are filing. Even the smallest mistake can get your returns flagged. As a result, not only will they delay receiving your refund significantly, but in addition, may even result in an audit.

Tax Refunds for Those Who Claim EITC or ACTC

In concluding this article, we’d like to mention that if you claim the earned-income tax credit or the additional child tax credit, you’ll most likely receive your refund beginning in late-February. Due to regulations, the IRS must wait until mid-February to issue refunds to those who claim either of these credits. Despite this, it’s still extremely important to follow the tips above the avoid waiting even longer.  

The simple measures that we’ve covered above can help make sure that you receive your refund quickly and without an issue. If you follow all of the steps above, but still don’t receive your refund a month (at the latest) after filing, there may be an issue with your returns. If you ever receive a notice from the IRS, let our trusted tax professionals at IRS Audit Group help you out. Our team has extensive experience in dealing with the IRS and helping our clients reach successful resolutions, and we offer a free initial consultation. For more information or if you have any questions, please call us at 1-888-300-6670.

If you’ve had an experience trying to call the IRS, it’s likely you already know better than to try to call them on your own. It’s almost certain that if you try calling, you’ll be met with extremely long wait times, a confusing automated system, and perhaps even a “courtesy disconnect” where they basically hang up on you before you can ever talk to someone. If you are lucky enough to talk to someone, they’ll likely try to divert you to the IRS.gov to get the answer that you’re looking for.

Instead of calling the IRS on your own, you can have our tax professionals at IRS Audit Group call on your behalf. Authorizing a tax professional to represent you on your behalf is simple, easy, and affordable. Having one of our professionals call the IRS on your behalf is highly recommended, especially if it is a more complicated issue that you’re calling about. If you’ve received any type of notice from the IRS, for example, you do not want to stand up to the IRS on your own. Many people will often immediately call the IRS after receiving any type of letter, which typically only makes the problem worse. Our team of tax attorneys, CPAs, and enrolled agents have extensive experience in dealing with the IRS and know how to talk to IRS officials to help our clients reach a successful resolution.

Navigating through an issue with the IRS can be extremely tricky, time-consuming, and potentially even costly. Let our team at IRS Audit Group guide you through any experience with the IRS. Give us a call today at 888-300-6670 if you have any questions about a notice you’ve received, tax law questions, pending audits, or any other tax-related issue.

Problems With Contacting the IRS Yourself

Being Discarded From the System

Now, everything is digital. Automated. Phone calls send you to a machine, or refer you to a website you barely have time to write down before the automated voice is disconnecting you. Attempting to contact the IRS is no different. You still have the likelihood of calling them only to be dismissed, and emails can so easily get lost in traffic. Overall, trying to contact the IRS is difficult, harder than it should have to be. When they hear the average citizens voice, they’re quick to dismiss, which is why having a set of reliable income tax professionals is so important in a quest to contact the IRS.

Running Into More Problems

A risk anyone takes opening themselves up to strangers is the possibility of judgement and suspicion. If you are to call the IRS, especially on account of already piquing their interest due to an inconsistency in your tax filing, they might even get you in more of a cram than you already may have found yourself in. Leave it to the tax professionals. We know how to handle these sorts of situations. It’s our job, and to try and contact the IRS on your own will only make issues more complicated than they have to be.

What We Can Do to Help

Great Representation

The IRS Audit Group is full of passionate representatives ready to work as your personalized tax representatives. We will fight for you. Having the advantage of a real tax professional service is one step in the right direction to resolving whatever IRS or tax issue you may be experiencing. Finding great help these days can be difficult, but the IRS Audit Group will only work in your favor. So, if ever you’re finding yourself looking up a great group of tax professionals near me, be sure to check out The IRS Audit Group in California.

Reliability

It’s always nice to have someone you can count on. Nobody likes a flake. And while the IRS can be a tricky bunch to grab ahold of and contact, our services make it easy to settle any pending issues or conflicts you may have with the IRS. We are a reliable service full of hardworking individuals working to do what’s best, and what’s right for YOU. There is no pride in mediocracy, and we strive to do be the best tax professionals and offer the best tax professional services there is. You can count on us no matter what the issue is. We don’t judge and we don’t hesitate. We are not afraid to be confrontational. We will fight the matter with an assertive force and ensure your conflicts with the IRS are resolved civilly.

When Does Tax Season Start?

2019 is the second year in a row that tax season, which in most years has typically started in the third week of January, will get off to a late start. A few days ago, amidst the government shutdown, the IRS announced the January 28th start date. Beginning January 28th, the IRS will accept paper and electronic tax returns.

Impact of Government Shutdown on Tax Season Dates

People throughout the nation were concerned what effect the government shutdown would have on the start day, and more importantly, on refunds. Fortunately, along with the start date, IRS Commissioner Chuck Rettig announced earlier this week that taxpayers would receive their refunds on time.  

Other Factors Impacting Income Tax Season

In spite of the government shutdown, what most experts are saying is the real cause of this delayed start is the new 1040 form that IRS officials created for this year. Taxpayers will no longer use Form 1040A or 1040EZ, but instead, everyone will complete the same Form 1040, which has six new schedules. The IRS claims most people will only need to complete Form 1040 without any of the new numbered schedules.

Important Reminders for 2019 Tax Season

Below, we highlight a few important things to keep in mind as tax season gets underway.

1. As always, the IRS encourages people to file electronically: Whether you’re using a software or a professional tax preparer, it’s always important to file electronically to ensure you get your refund on time. In addition, filing electronically helps avoid errors that could lead to red flags.
2. When does tax season end? Monday, April 15th is Tax Day 2019, meaning it’s the last day of tax season. You don’t have to rush to submit your tax returns right away on January 28th, but we also suggest to file before the April 15th deadline to avoid having to rush and risk making mistakes.
3. Contact your tax preparer sooner than later: Especially given all of the new tax reforms that go into effect this year, it’s important to give your tax preparer the time to be able to review all of your documents and make sure everything gets filed correctly.

By making sure you follow these simple steps, you put yourself in a better position to make filing your taxes a smooth process and reduce the likelihood of an audit. In the unfortunate event of an audit, however, you can call our team of tax professionals and CPAs at IRS Audit Group to help guide you to a successful resolution. We offer full audit representation services for both IRS and state audits, as well as provide a free initial audit consultation

IRS 1040

What Has Changed?

For many years, taxpayers have known the IRS  federal income tax form 1040 form as a long and complicated form. For those who don’t know what is form 1040 is, or do not know how to get 1040 form,  it is an IRS form that is filled out by taxpayers to report their gross income. The IRS 1040 form used to be pages long, and used to come in different formats, including the 1040, the 1040A, and the 1040EZ. Starting 2019, the IRS is issuing a new 1040 form. Taxpayers will no longer be stuck choosing between the different versions of the previous 1040 form, because it is completely different from the 2018 form 1040 schedule a.

What To Know?

Recently, the IRS announced a change in the 1040 form instructions. As we gear up for the 2019 tax filing season that is quickly approaching, we want to focus on one big change that taxpayers will notice this year: the new 1040 form. In an effort to streamline the process for taxpayers, the IRS has created a shorter, simpler version of the 1040 form. This new form is about half the size of the current version. Taxpayers will no longer have to choose between Form 1040, Form 1040 A, or Form 1040EZ—instead, all 150 million American taxpayers will complete the new 1040 form.  Regarding the schedules, the IRS has suggested that nearly 65% of all American taxpayers will have to submit the new 1040 with only one schedule. We are not sure which schedule, it may be IRS form 1040 Schedule A. While the IRS has indicated that the new 1040 form will certainly be used for 2019, it’s still making minor changes before the opening of the filing season. For those that have a more complicated return, such as having deductions, credits, or owing additional taxes, addition Form 1040 Schedules may need to be filed. Below, we provide a guide on all of the different 1040 schedules, giving you information about how to use them.

Schedules

Schedule 1: Needs to be filed if you have additional income including capital gains, unemployment, gambling winnings, or any prize and award money. Also needs to be filed if you claim deductions such as student loan interest deduction, self-employment tax, or educator expenses.

Schedule 2: Needs to be filed if you owe Alternative Minimum Tax (AMT) or need to make an excess premium tax credit repayment.

Schedule 3: Needs to be filed if you can claim a nonrefundable credit such as foreign tax credit, education credits, or general business credits. Child tax credit and credit for other dependents are not included as part of nonrefundable credits here.

Schedule 4: Needs to be filed if you owe other taxes including self-employment tax, tax on IRAs or other retirement plans, and household employment taxes.

Schedule 5: Needs to be filed if you can claim a refundable credit other than American opportunity credit, additional child tax credit, and the earned income credit. Also needs to be filed if you have other payments, for example amount paid with a request for an extension to file or have excess social security tax withheld.

Schedule 6: Needs to be filed if you have a foreign address or a third party designee other than your paid preparer.

IRS Audit Group

What To Do?

The new income tax form 1040 is just one of the ways that the IRS is getting ready for the many new changes that are coming into effect as part of the Tax Cuts and Jobs Act. This is the biggest piece of tax legislation in the past thirty years, and as a result, it’s important to understand how they may affect you during the 2019 filing season. We can help you with all your taxpayer needs, including filling out a 1040 extension form, information on the form 1040 tax table, or any other questions about IRS or taxpayer procedures.

Contact Us

Contact us today for help with irs tax form 1040, and much more. Contact us at 1 (888) 300-6670 to get in touch with one of our friendly team members who can answer all of your questions. You can visit us at IRSAuditGroup.com or email us at [email protected]

The end of the year is quite a busy time for any business owner. Not only are the holidays in full swing, but additionally, there are tasks every business owner needs do to set themselves up for a good start in 2019, especially in terms of taxes and bookkeeping. In this article, we’ll highlight what we believe are some of the most important things to do in closing out the year.

• Make sure your accounts receivable is reconciled.

We begin with a task that is absolutely essential. Take a look at your list of unpaid invoices and try to collect these bills before the end of the year. Not only will this give you a fresh start in the new year, but it will also help with cash flow.  

• Confirm that your payroll and benefits are accurate.

As expressed by many tax experts, it’s always better (and less expensive) to correct any issues with payroll and benefits in December rather than in the new year. Something that often goes unaccounted for are taxable fringe benefits, such as sick pay or a company car, or other transportation subsidies.  

• Disburse any bonuses before the end of the year.

Bonuses have a big impact on the profits you report. As a result, it makes a difference whether you disburse these bonuses before the end of the year versus in the new year. If you assign bonuses at the end of the year, you can deduct from the revenue for this year, meaning a reduction in the amount of tax you’ll owe when you file.

• Meet with your tax professional.

A year-end meeting with your tax preparer is always a good idea. You can use this meeting to evaluate your current tax strategies based on your financial report. Look through your cash flow statement, balance sheet, and profit and loss statement together and identify how taxes will be influenced.

• Use your financial statements to create goals for the coming year.

Not only is it useful to review your financial statements to evaluate the goals that had been set for this past year, but also to set new goals for the coming year. Besides setting new goals, use this time to begin planning your budget.

These five simple steps we’ve covered above can go a long way in ensuring your business is ready for the new year. It may seem like a lot of work, especially with all of the holiday chaos, but in the long run, it will make your life easier and help your business be successful. In addition to state and IRS audit representation, our team of CPAs also offers additional services such as individual income taxes, business income taxes, and employment taxes. If you have any questions, contact our friendly IRS Audit Group staff today at 1-888-300-6670 for a free consultation.