Tax Help Advice For 2010’s Tax Season: Beware of Tax Preparer Penalty to Avoid IRS Problems
Recently I was featured in CPA Magazine along with an elite selection of other top CPAs and tax experts to offer tax help and advice to taxpayers like you to prepare for the upcoming 2010 tax return filings. In light of the fast-approaching 2010 tax season, I want to draw your attention to a few things that you need to know about new IRS regulations for tax preparers.
If you didn’t know already, the IRS projects that it will receive more than 139 million individual tax returns in 2010. As Americans get ready to file their 2009 tax returns, the IRS is focusing in on the tax return preparer community in an attempt to curb tax cheats and boost enforcement of its tax collection efforts.
As one of Top 40 Tax Advisors to Know During a Recession, I will tell you this: essentially the IRS is turning tax professionals into ‘auditors’ instead of advocates of our clients. What’s happening now is that the government has decided that its war on tax evasion is a multi-front conflict, ranging from overseas bank accounts to the tax preparer around the corner.
In this particular CPA Magazine feature, “What We Learned From Last Tax Season,” the article reveals important tax lessons from me along with other top tax advisors aimed to help readers work smarter in 2010 when preparing their tax returns.
Basically, the government’s new model for the regulation of tax return preparers includes a “More Likely Than Not” preparer penalty standard designed to make it more difficult for tax advisors to take aggressive positions on behalf of clients who need tax help when they fall in the grey area of IRS law.
Let me elaborate:
Per IRS’s IRC Section 6694, the “More Likely Than Not” preparer penalty standard is making it more difficult to take aggressive positions on behalf of clients who are in the grey area of tax law. The IRS is turning tax professionals into “auditors” instead of advocates of our clients.
If the IRS detects and proves beyond a reasonable doubt that fraudulence was deliberate, both the taxpayer and the tax preparer will now be liable for IRS penalties. However, if you have a very strong case to get the penalties abated or removed, a tax attorney or Certified Tax Resolution Specialist can help prepare amended returns and then represent you in the case of an IRS audit.
Make sure that you handle your tax returns carefully this season. Don’t cheat on your taxes–now with the IRS and tax preparers both on the lookout for fishy tax activities, it’s no time to gamble with your life’s savings. But also make sure that if you do use a tax preparer, that you double-check all your tax returns before approving them; otherwise, you could be liable for a tax filing mistake you did not make.
Tax Resolution Services is a team of expert tax attorneys, CPAs, and Certified Tax Resolution Specialists who are here to help you with your tax problems. Call our office today at 1-866-IRS-PROBLEMS (1-866-477-7762) for a free tax resolution consultation or visit www.taxresolution.com
More Tax Help, IRS News and Tax Relief Tips:
- IRS Tax Relief: Seven Common Income Tax Relief Myths That Can Get You into IRS Trouble
- Tax Help: Nation’s Leading Tax Relief Expert Shares Tips on How Small Businesses Can Avoid IRS Audits
- Leading Tax Relief Expert Offers Free Tax Help during Countdown to National Tax Day
- Tax Help: How to Resolve Your Back Taxes & Prevent Tax Problems If You’re Short on Cash This Season
- Tax Help Options For Overseas Tax Evasion as UBS Pushes For Swiss-US Deal
Tags: Back Taxes, CPA magazine, delinquent taxes, income tax relief, more likely than not, tax attorney, tax expert, tax help, tax preparer penalty, tax resolution, tax season 2010, tax settlement, Tax Tips
