Finance Monthly Taxation Awards 2024. USA 11 Your clients are often referred to you by third parties such as mortgage lenders and attorneys. What expertise and experience do you have that goes beyond the counsel of a regular attorney? As an Enrolled Agent I am directly licensed by the US Treasury (which the IRS is a division of) and often preferred by many of the IRS employees due to my specialized knowledge and pursuit for the end solution. As an enrolled agent, my entire career has been based on tax and tax resolution. My test was a four-part test involving every aspect of tax. I have a reputation amongst mortgage lenders and realtors for being able to get liens discharged or subordinated in a very rapid fashion allowing them to close on more loans. The underwriting process is often a challenging one when processors are not able to timely pull transcripts holding up loan closings. We are able to assist and sometimes pull the transcripts instantaneously. We are sought out by Tax attorneys because of our reputation, level of expertise and ability to be shrewd negotiators with the IRS (a skill learned from my father!!) We also work with other Enrolled agents and CPA’s who do not care for this type of work. To negotiate with the World’s largest collection agency takes a specialized skill set that I have now spent years mastering. What common misconceptions do people have about dealing with the IRS and back taxes? This is a loaded question for sure and can be approached in many ways. Here are a few thoughts. First there are those who receive notices and just pay them. The IRS makes many mistakes and erroneous letters are amongst them. If you get a letter, do not jump to pay the amount, especially if it doesn’t “feel” right. If your tax preparer has stated that you have a refund and you get a letter that the IRS has changed your return, take the time to investigate that you actually owe. Second, do not go at it alone. The IRS is trained to phish for information and lead taxpayers down a bunny trail to collect way more information than necessary. To the innocent taxpayer, the IRS will attempt to solicit information beyond the scope of their assignment. Third, EVERY TAXPAYER has rights. Thanks to Nina Olsen (past taxpayer advocate) we now have Publication 1 the Taxpayer Bill of Rights. Taxpayers have a set of rights. The Right to Representation is perhaps the most valuable right. Once invoked, the IRS cannot communicate with the taxpayer, as long as the representative is completing tasks requested of the IRS in the allocated timeframe. If the representative does not cooperate with the IRS or causes intentional Photography: Kevin Lofgren www.lofgrenphoto.com
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