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so with the increase in technology over the last few years the IRS got much
better about matching independently reported income and deductions
with what you've actually reported on your tax return
so you're W2 for example gets reported independently to the IRS and
your tuition statements from colleges get reported to the IRS and your mortgage
statement from your lender gets reported to the IRS uh... all without having you
any involvement from you so when you go around and you prepare your income tax
and you send it in more and more we're seeing correspondence from the IRS and
says hey you forgot to include this ten ninety this ten nine eight whatever it is
is uh... and by the way you owe another eight hundred dollars plus penalties
interest cause you don't pay it in April when you should have so please send a nine hundred
and twenty seven dollars uh... to the IRS
so um... a lot of times and we will ask our clients if the information is complete
to the best of their knowledge and in cases when they were really unsure we have a
great opportunity now to have you signed a power of attorney tax power of
attorney
we go right to the IRS and we get what's called the wage and income
transcripts and it basically is a listing of all the information that the IRS
knows about for a particular tax year with regard to you and eliminates any of
that need or worsened correspondence you get two or three months down the road
says you're going to owe an extra eight or nine hundred dollars to the IRS
uh... in that way we're able to save our clients a lot of time and hassle and
potentially money uh... by resolving IRS correspondents down the road