The IRS has seen it all, plenty of filing errors and oversights. We at Whyte & Associates in Rancho Cucamonga have more than 60 years of experience with the IRS. We too, have “seen some things.” By partnering with our seasoned and skilled accounting and tax professionals, you have peace of mind that your personal wealth and tax returns are in great hands. We’ve provided a few tips and some of the common mistakes that our firm’s services help you to avoid come “tax time,” which in and of itself is not limited to a season. A little communication and planning throughout the year goes a long way to minimize the risk of your return being flagged for an audit.
- Common error No. 1: “I don’t have to file.” You may be eligible for refunds, credits, and other benefits – and not even know it! Do not assume you don’t have to file and miss out on these opportunities.
- Common error No. 2: “I’ve reported all of my income, I think.” This is not something you want to second-guess. You may be subject to federal and state penalties if you repeatedly fail to accurately and completely report all income. We can help you to get your tax affairs in tip-top shape. All receipts and documents are received on time. So, we are not rushing to file—this approach aids in minimizing the risk of incomplete earnings documentation, which can be a costly mistake.
- Common error No. 3: “I blew past the deadline!” If you owe money to the IRS and don’t file within the respective deadlines, expect a late filing penalty in the future. Fees may also be assessed the longer you go with submitting your return. Due to our proactive, ongoing approach to partnering with clients, you never have to worry about filing late. Additionally, we like to stay in touch to make sure all personal and/or business changes are accounted for, which can affect the soundness of the return and the opportunities presented by this process.
- Common error No. 4: “I didn’t know I was eligible for that credit (deduction, etc.).” We don’t expect you to be aware of every new deduction or opportunity to reduce your tax liability. After all, that is our job. The less you do on this front, the more you can focus on what you do well and your business. We stay abreast of the latest changes to tax law. So, you don’t miss out on any money-saving credits or incentives. Additionally, we look through your past tax history to assure no important data is omitted or overlooked.
We take great care with all of our clients. And we know what to anticipate from the IRS as Enrolled Agents. This distinction means that we have experience representing clients of all types on all tax matters and at various IRS offices. We are not restricted in representing our clients to the best of our ability. Do not put off this important process for another day. Contact us at (909) 575-0080 to schedule your appointment.
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