Sancus Tax

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How to Prepare for an IRS Audit

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The IRS is preparing to increase the number of audits in order to target individuals who are evading taxes and to generate more revenue for the U.S. Treasury. This initiative comes as a result of receiving an $80 billion funding injection from the Inflation Reduction Act (IRA), aimed at revitalizing the agency that has been struggling with staff shortages and a decline in audit rates in recent years. The IRS has unveiled a new strategy, focusing on enhancing customer service and stepping up enforcement measures. IRS Commissioner Danny Werfel emphasized that the changes outlined in the plan represent a significant departure from the years of inadequate funding. The IRS's 3-year strategic plan includes a substantial rise in audit activities, with a specific focus on high-income individuals and large corporations. Entities such as large corporations with assets exceeding $250 million, large partnerships with assets over $10 million, and wealthy individuals earning more than $10 million will be the primary targets of these intensified audit efforts. However, Werfel reassured that there are no plans to increase audits for middle- and low-income individuals or small businesses. By concentrating on wealthy individuals and big businesses, the IRS aims to ensure that those with significant financial resources are complying with tax laws and not engaging in tax evasion practices. This targeted approach is intended to maximize the effectiveness of audit resources while minimizing the burden on individuals and businesses with lower income levels. The IRS's renewed focus on audits and enforcement actions is part of a broader effort to uphold tax compliance and fairness in the system. By prioritizing audits for those with substantial assets and income, the agency seeks to maintain a level playing field for all taxpayers and strengthen overall tax administration in the country.

Taxpayers, did you know you have rights when dealing with the IRS? According to IRS Publication One, also known as the Taxpayers' Bill of Rights, you have the right to retain representation. This means you don’t have to handle the IRS on your own. Enrolled Agents are experts in dealing with the IRS and can represent you in all matters at the IRS. At Sancus Tax, we ensure our clients never have to speak directly with the IRS. The IRS cannot force you to communicate with them if you have representation unless they issue a formal summons. Even then, we can usually quash that summons, so you still don’t have to speak with them. Our team also includes a tax attorney and soon a USTCP, both of which can also represent you in U.S. Tax Court. Stay informed and protect your rights with our expert representation! Contact Sancus Tax today if you owe the IRS and need help! https://buff.ly/3wZ8AbN

Taxpayers, did you know you have rights when dealing with the IRS? According to IRS Publication One, also known as the Taxpayers' Bill of Rights, you have the right to retain representation. This means you don’t have to handle the IRS on your own. Enrolled Agents are experts in dealing with the IRS and can represent you in all matters at the IRS. At Sancus Tax, we ensure our clients never have to speak directly with the IRS. The IRS cannot force you to communicate with them if you have representation unless they issue a formal summons. Even then, we can usually quash that summons, so you still don’t have to speak with them. Stay informed and protect your rights with our expert representation! Contact us today if you owe the IRS and need help!

voiding Tax Scams: Tips for Protecting Yourself from Fraudulent Tax Relief Services

Tax Debt Settlement: Why Should I Hire a Professional for Assistance? https://buff.ly/3Kb2uYV

7 Tax Relief Strategies for Freelancers