Selasa, 06 Juni 2017

Income Tax Lawyers Can Help You Find More Deductions

Did you know that in February 2007 more than ten million early tax filers did not realize that they qualified for the telephone tax excise refund and lost out on a $30-60 rebate? How many more people filed their income tax forms incorrectly and lost out on that rebate by April and how many more people made mistakes in their income tax forms that lost them hundreds of dollars more?
Millions of people file their income tax forms incorrectly each year, even with the help of computer programs designed to help taxpayers avoid errors. Some of these mistakes lose the taxpayer money. Many more taxpayers make the mistake of not paying the federal and state governments all that is due. When the IRS discovers these kinds of errors, the taxpayer could face severe penalties.

The bottom line is that no computer program can guarantee that you file your income tax forms properly because there is still the possibility that you mistakenly don't include all of the required information. To avoid IRS problems all together, you should consider contacting one of many income tax lawyers in your area to guide you through filing your income taxes.

Income tax lawyers know the income tax laws inside and out and they'll be able to catch any part you might have missed. Income tax lawyers often point out credits and rebates to their clients for which they may not have realized they were qualified, such as the child care credit, earned income credit, or the health coverage tax credit.

Income tax lawyers can also stop you from making a big mistake and failing to report every part of your income. Taxable income includes not only your wages, but also your savings account interest, your investment profits, and even the "extra money" you take in by selling items professionally on auction Web sites. Income tax lawyers know what you need to report and what you don't-the couple of garage sales you had this year, for instance, are not considered taxable income.

If you're already in trouble with the IRS, income tax lawyers can guide you through your next course of action. If you're facing an audit, a firm of income tax lawyers can organize your paperwork and verify the accuracy of your previous returns. If you discover that you owe the IRS thousands more, income tax lawyers can help you negotiate a long-term payment plan with the IRS so that your debt can be more manageable.

If your current economic situation is dire enough, income tax lawyers can evaluate your profile and tell you if you qualify for the IRS' Offer in Compromise, a one-time settlement for your tax debts that is much lower than the amount you initially owed. However, be wary of scam companies that claim that the Offer in Compromise is an easy way out of IRS debt. Not everyone qualifies and only a firm of professional income tax lawyers can tell you if it'd be worthwhile for you to apply.

Why risk it? You could save yourself hundreds or thousands of dollars by having professionals like income tax lawyers fill out your tax returns for you. Income tax lawyers can also help you avoid trouble-or more trouble-with the IRS. For a list of income tax lawyers near you, visit taxationlawfirms.com.

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