Patrick P. Murphy’s Post

📬 The number of IRS notices our clients are receiving is skyrocketing. Careful tracking and analysis of these notices over the recent months has led us to a very important conclusion that all taxpayers need to hear: 𝗔 𝗹𝗲𝘁𝘁𝗲𝗿 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗜𝗥𝗦 𝗱𝗼𝗲𝘀 𝗻𝗼𝘁 𝗮𝗹𝘄𝗮𝘆𝘀 𝗺𝗲𝗮𝗻 𝘀𝗼𝗺𝗲𝘁𝗵𝗶𝗻𝗴 𝗶𝘀 𝘄𝗿𝗼𝗻𝗴. Overwhelmingly more often than not, these notices are totally unavoidable and not a result of something done wrong, by either the taxpayer or their tax professional. So what do you do if you receive IRS fan mail? 1️⃣ Stay calm! While an envelope with the Internal Revenue Service headline is not a welcome surprise, don't get ahead of yourself and assume you're being audited or penalized, before you have a clear understanding of what's really going on. 2️⃣ Take action. Don't let the notice intimidate you and then sit on your desk for longer than you need to. It likely has a due date attached to it that you need to be aware of. This is not the time to procrastinate. 3️⃣ Leverage the resources you have available to you. If you work with a tax professional, they likely have a policy on how they handle IRS notices for their clients. Their knowledge and experience becomes invaluable when approaching writing a response letter or making a phone call. While IRS notices seem to be more and more common, a proactive and efficient approach will ensure they don't get in the way of an otherwise smooth tax filing season. #IRSnotices #UStax Bright!Tax

Have you been wondering if you could become a tax preparer? Andy Frye, The founder of Pronto Tax School, answers this question in a quick video. Check it out here https://bit.ly/4bAFjm6 and start believing in a new career path for yourself. #taxpreparation #startdoingtaxes #taxprofessional #taxpreparer #learntodotaxes

Here's a story of someone who should have known better. The Justice Department is suing a former IRS revenue agent who, after leaving the agency, set up a tax preparation business that allegedly filed false tax returns. While the IRS whistleblower program does not require proof of willingness or intent, some whistleblower programs require proof of "knowledge" that relevant records were false (like the tax whistleblower program under the New York False Claims Act). When a former revenue agent submits false tax returns, it should generally be easy to prove knowledge. #taxwhistleblower #irswhistleblower #nyfalseclaimsact #nytaxfraud #nytaxwhistleblower #taxfraud

In case you missed it... The IRS plans to increase audits on wealthy taxpayers, large corporations, and large and complex partnerships by "sizeable percentages" for tax year 2026, including: - nearly tripling the audit rates on large corporations with assets over $250 million; - a nearly tenfold increase in audit rates on large, complex partnerships with assets over $10 million; and - a more than 50% increase in audit rates on wealthy individual taxpayers with total positive income over $10 million. What a time to be alive and a tax controversy lawyer. https://lnkd.in/gZ9VvunY

Facing tax issues can be incredibly stressful, but you don't have to go through it alone. I’m Erica N. Hill, an Enrolled Agent dedicated to helping entrepreneurs and business owners overcome their IRS tax challenges. With over 24 years of experience in Tax, Audit, and Accounting, including a significant 15-year tenure as an IRS Revenue Agent (Field Tax Auditor) in the Small Business & Self-Employed Division, I understand the stress and complexity of dealing with tax issues. As an Enrolled Agent, I represent you before the IRS. I step into your shoes and take on your tax problems as if they were my own. From audits to collections and appeals, I manage the entire process so you can focus on running your business. My goal is not only to resolve your current tax issues, but also to help you stay compliant to avoid future tax problems. For over 15 years I protected the government's best interest. Now I protect yours and ensure that you receive the best outcome in your IRS challenges. Book Now & Say Goodbye 👋🏼 To Tax Stress!! Don't let tax issues keep you up at night. Schedule an appointment with me today and take the first step towards resolving your IRS challenges. Click the link in my bio or visit https://lnkd.in/dkWeKFrH to schedule your appointment. Say goodbye to tax stress and hello peace of mind with expert representation by your side. Let's ensure you receive the best possible outcome in your IRS challenges! #empoweredwithericah #taxfraud #taxhelp #taxeducation #irshelp #taxsolutions #irsaudit #taxresolution #taxdebt #taxrepresentation #taxtipsforentrepreneurs #taxadvice #enrolledagent #taxaudit #taxrelief #smallbusinesstipsforwomen #taxcompliance #taxpenalties

📢 Join Us for a Crucial Training Event: Resolving Common IRS Rejections! 📢 🗓 Date: June 14, 2024 ⏰ Time: 1PM - 3PM 📍 Location: 7055 Old Katy Rd, Houston, Texas - 77024 Are you a professional tax preparer looking to tackle the most common IRS rejections during tax filings? This course is tailored just for you! Learn to identify typical rejection codes and understand their causes. Equip yourself with practical strategies and step-by-step solutions to resolve these issues efficiently, ensuring accurate and timely tax return processing. 🔍 What You'll Learn: Common IRS Rejections: Get an overview of the most frequent rejection codes and their causes. Error Identification and Resolution: Gain detailed guidance on diagnosing and correcting errors in tax returns. Best Practices: Discover tips and best practices for minimizing rejections, including thorough documentation and double-checking entries. Case Studies: Learn from real-world examples and case studies, illustrating common mistakes and their resolutions. By the end of this course, you'll have the knowledge and skills necessary to efficiently handle IRS rejections, reduce processing delays, and ensure your clients' tax returns are accurate and compliant. This training is essential for any tax professional committed to providing top-quality service and maintaining smooth tax filing operations. 🚀 Seats are limited, so register today! 🚀 🔗 Register Here: https://lnkd.in/gTVCFb8N 👥 Hosted by: Tax Hound ➡️ RSVP Now and Secure Your Spot! #TaxTraining #IRSRejections #TaxPreparer #ProfessionalDevelopment #TaxCourse #HoustonEvents #TaxFiling #ErrorResolution

Tax season is upon us, and navigating the intricate maze of tax laws can be daunting. That's where a tax attorney comes in! 📚💼 From unraveling complex regulations to safeguarding your financial interests, their expertise is invaluable. Check out our newsletter for the top reasons why consulting a tax attorney is a strategic move for any taxpayer. #TaxLaw #FinancialAdvice #ConsultTheExperts https://loom.ly/6VbnCdg

🔥 IRS Notice Knocking Your Door? We've Got Your Back! Hey there, tax troopers! 🕵️♂️ Ever had that sinking feeling when you see an IRS notice in your mailbox? Don't worry, we're here to help. We'll even give you our template for responding to an IRS notice! Our latest article demystifies IRS notices, explaining what they mean and how you should respond. Whether it's a simple miscommunication or a more complex issue, we've got the scoop. 📨🔍 Ready to become an IRS notice ninja? Or will you let the taxman give you the jitters? 😱📚 Hop onto our learning center and arm yourself with knowledge. Remember, when it comes to taxes, ignorance is definitely not bliss! 😉 #IRSNotice #TaxTroubles #KnowledgeIsPower #FinancialFreedom #TaxTimeTips

The rules under the TCJA allow a considerable number of taxpayers to use the simplifying exemptions, determining eligibility for the exemptions can be a challenging process requiring taxpayers to overcome multiple hurdles.....https://bit.ly/3xk6BPb #businesstaxexemptions