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In most cases The Internal Revenue Service does accept your tax returns as filed. We find on the IRS website that computerized screening at random is the method used in requesting an audit. Just because you receive a notice for an audit doesn't always mean that you did something wrong or that you are dishonest.
If you do receive a notice for an audit, you have the right for a defense. The minute you receive your audit notice, make a copy of it and keep that copy in a safe place where you can find it easily if you need to. Record the stamped date on the notice and the deadline date. Keep the envelope sent to you by the IRS; a record of the date the notice was mailed.
Keeping detailed records of your returns including deductible expenses, business records, banking records, is a legal requirement for any business.
Please do not file your own tax returns, unless you know the tax codes, especially now with the Affordable Health Care Act. Most United States tax payers just don't have the time to live life, run a business or learn new tax laws and codes every year. The franchised software programs are dangerous to use if you don't know the tax codes. You may set yourself up for Identity Theft, or you may miss something that could keep you out of harm's way when audited.
Small business owners especially are susceptible to errors because of not knowing the facts about filing tax returns. Is running your business, keeping customers happy, keeping one step ahead of the mega-stores and your competition more than you can handle now? Then what would make you want to file your own tax return?
The tax code is complex and mind-boggling. If you do receive a notice for a tax audit don't panic. Find a Tax Preparer who specializes in audit defense and have him look at the notice before you take any other action. Your Tax Preparer is your insurance policy on any defense you may need. Don't go it alone. The following statement about criminal penalties is directly from the IRS website.
Criminal Penalties: You may be subject to criminal prosecution (brought to trial) for actions such as:
· Tax evasion,
· Willful failure to file a return,
· Supply information
· Pay any tax due
· Preparing and filing a fraudulent return
Find a good Tax Preparer and stay safe. Tax preparation is serious business. It's better to be safe now and not sorry later.
Growing small business the right way is specific and takes skillful authority. There is no reason to not be successful. Do it right and enjoy the rewards. For small business consulting, marketing services and tax preparation go to http://www.Patricia-A-Gaines.com
Article Source: http://EzineArticles.com/?expert=Patricia_A_Gaines
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