Showing posts with label IRS audit. Show all posts
Showing posts with label IRS audit. Show all posts

Friday, July 18, 2025

Colorado Springs: When Your Spouse’s Bad Record-Keeping Becomes Your Tax Nightmare

Few things feel as stressful as discovering your spouse has kept inadequate or falsified business records, leaving your income and expenses misreported. You may feel embarrassed, frustrated, and overwhelmed when you realize the IRS may now view you as responsible for tax debts or inaccuracies you didn’t create.

You might worry about penalties, liens, or having your hard-earned money clawed back by the government. Perhaps you’re afraid of tax surprises and fear the shame of being unable to pay what the IRS claims you owe. It’s common to feel isolated and victimized, wondering why you have to face this alone.

But you don’t have to.

As an Enrolled Agent, I specialize in helping clients just like you who are caught in the mess of false record keeping by a spouse. I work to eliminate the fear of IRS harassment by stepping in as your representative, handling the communications, and ensuring you won’t be blindsided by liens, interest, or hidden tax liabilities.

Together, we can reconstruct accurate records, identify what was misreported, and develop a plan to resolve your tax issues while reducing penalties where possible. I also help you catch up on unfiled tax returns without shame so you can move forward with peace of mind.

The best part? My clients no longer feel exposed or vulnerable about their tax compliance. Instead, they walk away feeling confident and optimistic about their financial future, knowing they have a clear, compliant path forward.

If you’re tired of the stress and confusion false record keeping has created, let’s talk. You don’t have to handle this alone.

Take the first step towards financial peace today! Click here to complete our New Client Questionnaire and let us help you navigate your tax challenges with ease and expertise.

525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com

Monday, August 19, 2024

Colorado Springs: What Could Cause My Tax Return to Be Audited?


There is nothing more frightening than opening your mailbox and finding a letter that has "Internal Revenue Service" in the return address section of the envelope.  Any number of questions will go through your mind: "What did I do wrong?"; "Did my tax professional make a mistake?"; or "Did I forget to report some income?"

While each of these questions are important to you, the reason for the IRS letter can range a a typo to non-cash contributions to foreign forms.  How can you as a taxpayer be prepared just in case a letter requesting verification of something on the tax return arrives?  Advance preparation and documentation is always the best.  Some of the biggest issues are non-cash contributions. If you are donating an item of significant value, an appraisal is always the best way to ready for the documentation request. You can even include the appraisal with the tax return.

Consistent losses on Schedule C can also trigger an audit.  You really need to keep good documentation of your efforts to make a profit.

I have only briefly covered two of the reasons why your return may be audited.  In all events it is best to always have the documents easily accessible for the positions you are taking on your tax return, just in case.  Prompt and thorough responses to the IRS are always best. 

An Enrolled Agent can represent you before the IRS in these cases to reduce your anxiety and worry of dealing with the IRS on your own.


525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com

Tuesday, June 25, 2024

Colorado Springs: How Can I Get Audit Reconsideration? What is an Audit Reconsideration?


 

Been audited by the IRS and received a notice with bad news.  Are you stuck with the results?  Or, can you take action to get a result that you feel is more accurate?  Anytime we deal with the IRS the process can be daunting.  But if you disagree with the results of an audit, you have the right to request an audit reconsideration. This process allows taxpayers to present new information or evidence that was not previously considered, potentially leading to a revised audit outcome. 

Here’s a step-by-step guide on how to obtain IRS audit reconsideration:

  1. Hire a Tax Professional - An Enrolled Agent (EA) can provide guidance, help you understand eligibility, and ensure your request is thorough and accurate.

  2. Gather Documentation: Collect all relevant documents that support your position. This may include receipts, bank statements, or any other evidence that was not available or not considered during the initial audit.

  3. Prepare a Written Request: An EA will write a detailed letter on your behalf  to the IRS explaining why you disagree with the audit results. The letter will clearly explain how the included information or evidence impacts the audit findings. 

  4. Submit Your Request: Your written request and supporting documentation will be sent via certified mail to the IRS office that conducted the original audit. I recommend keeping copies of everything sent for your records.

  5. Follow Up: Patience is important.  It will take several months for the IRS to review your case. It is essential to promptly response to any IRS request for additional information.  

By following these steps, you can effectively request an IRS audit reconsideration and possibly achieve a more favorable outcome.


525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com

Colorado Springs: Stop IRS Anxiety Before It Stops You

When it comes to dealing with payroll tax liabilities, the complexities of the IRS resolution process can cause significant stress and anxie...