Tax Audit

Tax Audit

Highly successful businesspeople, top-notch corporate executives and wealthy individuals don’t take chances with their tax returns. That’s why they regularly hire the best NYC tax accountants to prepare their taxes. Sometimes, that’s not enough. If you’re worried about your taxes, hire a professional, third-party accountant to do a tax audit.

The more wealth you accumulate, whether you earned it or inherited it, the more likely it is that you’ll trip one of the IRS audit triggers. Miller & Company LLP, NY Certified Public Accountants, a best rated CPA firm in NYC.

In 2015, the IRS audited only one percent of returns from people earning less than $200K. If you earned $1 million or more, the rate of IRS audits increased to more than 12 percent. Also, the more income streams you have, the more difficult it may be to be certain that you report all your earned income. These are just several of the IRS audit triggers.

Tax Audit Help

Tax problems in the world of high finance are not rare occurrences especially in New York City; in fact, they happen all too often. You need to arm yourself with a dependable tax team that has experience dealing with complicated tax returns and six-digit incomes. You need the expertise of a personal accountant who looks beyond the numbers on the page to find ways to make your money work for you, not against you — not just during tax season, but all year long.

In addition to hiring the best tax accountants in NYC, you can take other steps to ensure your tax returns remain problem-free:

• Seek tax planning advice, which gets you thinking about your taxes throughout the year.
• Keep your finances straight with small business accounting services from a seasoned pro.
• Make sure you’ve filed all returns and paid your back taxes.
• Commission a tax audit to examine your tax return before it’s filed with the IRS.

Why a Tax Audit Is a Good Idea

If you’re worried about your taxes, hire a professional, third-party accountant to do a tax audit in NYC; it will reassure you. It’s basically like a dry run, except instead of going through the IRS audit process, you go through it with an independent New York accountant who has your best interests in mind. That doesn’t mean a tax audit from Miller & Company with offices in NYC and Queens isn’t thorough, however. All audits:

• Have to follow strict guidelines
• Are the most intensive review of your tax records available
• Verify all financial information reported
• Check for any missing income
• Investigate every deduction taken
• Ensure that your tax returns are bullet-proof
• Take a big-picture view of your finances to develop an encompassing strategy

Tax audits take time and they’re not inexpensive. When you consider IRS audit penalties and the disruptions to your business and your life from an IRS audit, you’ll realize that a tax audit from Miller & Company located in NYC and Queens is money well spent. The results of the audit get reported directly to you, not to the IRS, so you can take the recommendations before the IRS even sees your tax returns.

Get a Tax Audit from Miller & Company

NYC CPA firm Miller & Company is one of the best accounting firms in Manhattan and the New York metropolitan area. They serve high net-worth individuals, top-ranking executives and highly successful businesspeople. Their CPAs also provide small business consulting services, so they think in terms of best practices and successful outcomes. They have a track record that’s unparalleled when it comes to saving money for wealthy individuals and thriving businesses.

When the NYC tax accountants perform a thorough tax audit, they have to follow Generally Accepted Auditing Standards (GAAS). There are no shortcuts to doing an audit, and the more complicated a tax return, the more thorough the audit. When you hire professional CPAs like those at Miller & Company, they not only double-check the numbers on your existing tax return, but they also ask questions that may save you money.

When your personal CPAs deliver your audit report, you can rest assured that no stone has been left unturned. If you follow the recommendations when you do file, you can feel confident in submitting your returns to the IRS. You may still hit the IRS audit triggers — you can’t avoid them if you’re earning $1 million or more — but your tax return will pass any IRS audit process.

IRS Audit Help

If your tax return does trigger an IRS audit, best rated NYC CPA Miller & Company stands behind its work. The IRS can be relentless in its pursuit of tax money, but help is available in the form of small business tax representation. This service provides an intermediary between you and the IRS so you never have to speak to IRS agents directly. In fact, you should never speak directly to the IRS, since their agents are adept at asking questions that you aren’t legally obligated to answer.

Miller & Company acts as a third party, handling the IRS audit while you can continue your business and family life as normal. Because you’ve had your return voluntarily audited already, you have nothing to fear from an IRS tax audit — and there is plenty you might have to worry about. IRS penalties can include:

• IRS Tax liens
• Levy Taxes
• Wage garnishment
• Property seizures

Additional Tax Services

Remember that one year’s tax audit may not be enough to provide peace of mind. If you ask your accountant, “How far back can the IRS audit?” — the answer you get is three years. If they find improprieties in those returns, however, they can dig deeper: up to six years. You may find yourself needing more assistance than just tax representation, such as:

• Tax resolution services
• IRS payment plans
• Offer in Compromise negotiations

Whatever your tax needs, Miller & Company can provide them to you. If you’re worried about back taxes you owe, don’t put it off. If you want your tax returns done right, get the best tax preparation services. If you’re thinking about your future tax burden, ask for tax planning services. You don’t need to worry about your taxes when you call Miller & Company.

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