Taxes are often hard to understand and difficult to file, especially since tax rules have a way of changing every few years, which makes it hard for everyday people to keep up. This is partly because our tax system requires individuals to calculate what they owe, which is then verified by the IRS, rather than the IRS calculating taxes on your behalf so you don’t make mistakes in your filing. But since mistakes do happen, it’s best if you know where to turn to. For many people, this starts with first asking the question, “Who are tax consultants near me?”
Tax Consultants Near Me: How Local Help Can Make All the Difference
1. Personalized Help for Back Taxes
Nearly 18 million Americans are facing tax-related issues, so the first thing you should understand is that you are not alone – many other people also need help resolving their taxes. Personalized help for back taxes means your tax consultant will understand how you got into your back-tax situation.
This will involve gathering information on how much you owe, examining your tax-related documents, including your tax return, and sorting through any of the communications you have received from tax collection agencies to get a better idea of your exact situation.
What Does Personalized Help Look Like?
After we get to know you and your tax situation through a comprehensive consultation, we will start an investigation into your case. The investigation will include establishing a plan of action to protect your assets from tax collection agencies. After your case has been reviewed, a tax consultant will negotiate on your behalf to seek a resolution that is financially comfortable for your situation.
2. Dealing With Tax Collection Agencies on Your Behalf
Tax collection agencies, including the IRS, can be very aggressive when it comes to collecting taxes that are owed. Sometimes, this can mean that your wages are being garnished or you are at risk of losing your assets, such as your home or vehicle, until taxes are paid in full.
A tax consultant will take over the duty of communicating directly with the tax collection agency on your behalf. This is beneficial for a few reasons. For example, tax collection agencies have a tendency to use terminology that laypeople may not fully understand, which means you may inadvertently make an agreement without intending to.
What Tax Consultant Advocation Can Do for You
When you allow a tax consultant to advocate on your behalf with a tax collection agency, the immediate benefit of not having to deal with the agency directly is only the tip of the iceberg. A tax consultant can negotiate with the tax collection agency to reduce the amount you owe, argue for tax deductions that are owed to you by the IRS, and save your property from being possessed by the tax collection agency.
3. Completing Tax Schedules and Preparing Tax Returns
Many people want to prepare their taxes by themselves, which is what usually lands them in hot water with the IRS or with owing back taxes. But the fact is this: the more money you earn each year, the more complicated your tax filing is going to be. For example, those who fall within a certain tax bracket may not owe taxes at all, but the further you move up the tax bracket, the more tax forms you will have to prepare.
And speaking of tax forms, there are several schedules that tax filing software may not have access to, which may mean you are skipping over a vital form if you’re preparing your own taxes. A local tax consultant will be able to prepare and complete all of the tax schedules and forms relevant for your yearly filing, making it much easier to be confident that your taxes are filed correctly each time.
4. Evaluating Your Legal and Financial Liabilities
A tax consultant will also be able to identify any liabilities you may have. Tax liability is essentially the amount of money you will owe to the IRS after your taxes have been filed. Based on your assets, a tax consultant will be able to determine the legal and financial liabilities you qualify for, which can help you prepare in advance for the tax payments you will be required to make when your tax filing is complete.
5. Assistance Through Tax Complications
Even when your tax situation has been the same for years because your annual taxable income is relatively stable, there are sometimes complications that pop up and change the way your taxes need to be filed. Unfortunately, many of these tax complications come out of the blue and everyday people may not know the appropriate forms to use to account for these complications.
What Are Common Tax Complications?
One of the biggest unknown tax complications is the discharging of student loans. Let’s say you’ve filed for student debt relief and you’ve been granted a discharge of all your student debt. The amount of debt that is discharged is considered taxable income right now, which means that you will have to claim that amount on your tax filing and you will subsequently owe a lot more money to IRS as a result.
There are many, many other tax complications that can change how you need to file your taxes, and it’s best not to overlook them in order to avoid penalties. Other tax complications include situations such as:
- Divorce or marriage, where your joint-filing status will change
- Birth of a child, where your claimed dependent status will change
- Death of a spouse, where death benefits may need to be taxed
Finding the Right “Tax Consultants Near Me”: Key Things to Look Out For
When it’s time to find “tax consultants near me”, there are a few key signs to look out for so you know you’re getting good advice and help with your tax-related issues. Some of these signs include two main questions:
1. Is the Consultant Part of Your State’s Board of Accountancy?
The first thing you’ll want to do is verify that your tax consultant is a CPA or a certified public accountant. CPAs are able to help you prepare your tax return and file all the forms or schedules required for your taxes, as well as advocate on your behalf with the IRS. You can check if your consultant is a CPA on your state’s board of accountancy, or with the Better Business Bureau.
2. Does the Consultant Have Experience and a Good Reputation?
You’ll also want to make sure that your tax consultant actually has experience with the tax issue you have, which means verifying that the consultant has dealt with your specific tax issues, such as liens or garnishment. The reputation of your consultant also needs to be above board, which you can check out by reading up on customer testimonials.
When you need tax help, the first thing you need to do is find “tax consultants near me” so you can get the help you need as quickly as possible. Tax situations have a way of moving fast so it’s important to stay ahead of the game if you can. Get in touch with your local tax consultants at Geaux Tax Resolution to learn more about how local help can make a difference for your financial situation today!