Last updated 10 months ago
If you serve in the United States military, it’s important to be aware of the numerous military federal tax provisions that apply to you and your family. Many of these provisions are intended to directly benefit service members when filing returns and paying taxes.
In this IRS video, a spokesman discusses some of the IRS tax code provisions that apply to persons serving in the U.S. military, including extended filing deadlines and various tax deductions. For example, a service member may deduct reasonable out-of-pocket moving expenses if traveling to a permanent change of duty station; he or she may also deduct travel expenses if the new duty station is more than 100 miles away.
If you live in the San Diego area and would like more information on how a professional tax preparer can help you file your taxes, contact The San Diego Tax Pro at (888) 690-9245.
Disclaimer:
(1) nothing contained in this website was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended; (2) any written statement contained on this website related to any federal tax transaction or matter may not be used by any person to support the promotion or marketing or to recommend any federal tax transaction or matter; and (3) any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor with respect to any federal tax transaction or matter contained in this website. No one, without our express written permission, may use any part of this website in promoting, marketing or recommending an arrangement relating to any federal tax matter to one or more taxpayers.
Last updated 10 months ago
According to the IRS Declaration of Taxpayer Rights, taxpayers may hire income tax professionals who are registered and enrolled with the IRS to represent them in matters such as audits or investigations. An experienced enrolled agent can explain how a return was prepared, how income was determined, and how tax was calculated using available deductions and credits. The following factors should be considered in deciding when to hire a federally authorized tax professional to represent you in an IRS investigation:
You have complicated tax issues:
The more complicated your tax issues, the more difficult they will be to explain in an audit or other investigation. This is particularly true if you are not knowledgeable in tax matters and used a tax preparer instead of preparing your own return. In such cases, an authorized tax professional who understands complex tax matters can usually do a better job of representing you in an IRS civil investigation or audit.
You aren’t ready for your audit:
In the event of an audit, you will have just 30 days to collect all of your documentation and present your case. If you can’t get ready by then and it appears that work or other commitments may prevent you from concentrating on your tax issues, you may wish to file for a postponement in order to look for an authorized tax professional to represent you. Typically, the IRS allows as many as two 30-day postponements.
You owe less than $10,000 in back taxes:
Unless you owe $10,000 in back taxes or more, hiring a tax attorney or Certified Public Accountant may be unnecessary. An experienced tax planner and Enrolled Agent who is familiar with your tax history and returns may be able to produce an acceptable resolution of your tax issues with the IRS at a lower cost.
If you’ve received a notice of audit or tax delinquency notice from the IRS and live in the San Diego area, hire an experienced tax professional to represent your interests. Contact The San Diego Tax Pro at (888) 690-9245 for a consultation.
Disclaimer:
(1) nothing contained in this website was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended; (2) any written statement contained on this website related to any federal tax transaction or matter may not be used by any person to support the promotion or marketing or to recommend any federal tax transaction or matter; and (3) any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor with respect to any federal tax transaction or matter contained in this website. No one, without our express written permission, may use any part of this website in promoting, marketing or recommending an arrangement relating to any federal tax matter to one or more taxpayers.
Last updated 10 months ago
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Last updated 10 months ago
In addition to recovering back taxes and interest, the IRS imposes various civil tax penalties when a taxpayer fails to file a tax return, neglects to pay taxes when owed, or otherwise violates internal revenue rules and regulations. Penalties are normally due and payable upon notice and demand. Listed below are some of the civil penalties commonly imposed by the IRS:
Failure to File
A taxpayer who fails to file a tax return by the due date is subject to a penalty of 5% of the tax due on the return for each month the tax return is late. Returns filed more than 60 days after the due date are subject to a minimum penalty of $100 or 100% of the tax due, whichever is less.
Failure to Pay
A failure-to-pay penalty is assessed based on the amount of taxes owed. The penalty is 0.5% for each month the tax is not paid in full, increasing to 1% per month upon issuance of a demand for immediate payment.
Frivolous Return
Completing a tax return with inadequate or substantially incorrect information or information based on a frivolous position can result in a frivolous return penalty of $5,000.
Negligence
A taxpayer who fails to make a reasonable attempt to comply with the tax laws, keep adequate books and records, or exercise ordinary and reasonable care when preparing a tax return may be required to pay a negligence penalty.
Substantial Understatement and Fraudulent Underpayment
Understating taxes by more than 10% of the correct amount or $5,000 may subject a taxpayer to a penalty of 20% of the amount of taxes understated in the return. A taxpayer who files a fraudulent return or other tax document is subject to a penalty of 75% of the underpayment due to the fraud.
If you live in the San Diego area and have received a notice or letter from the IRS, don’t try to navigate the process alone. Contact The San Diego Tax Pro at (888) 690-9245 for a confidential tax consultation. Your first hour is always free of charge.
Disclaimer:
(1) nothing contained in this website was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended; (2) any written statement contained on this website related to any federal tax transaction or matter may not be used by any person to support the promotion or marketing or to recommend any federal tax transaction or matter; and (3) any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor with respect to any federal tax transaction or matter contained in this website. No one, without our express written permission, may use any part of this website in promoting, marketing or recommending an arrangement relating to any federal tax matter to one or more taxpayers.
Last updated 10 months ago
The San Diego Tax Pro wishes you and your family a happy and safe 4th of July! Click to view a list of the best places to watch 4th of July fireworks in San Diego.
