Getting a letter from the IRS can cause panic. However, Smith & Smith CPAs, LLC has vast experience in dealing with the IRS. We understand that a taxpayer can make an error however; the IRS makes errors as well. We dedicate ourselves to understanding each client’s situation and investigating the source of the issue. After locating the issue, we develop a plan with the taxpayer, and coordinate with the IRS to develop a solution.
The experienced team of professionals at Smith & Smith CPAs LLC can thoroughly examine and analyze your assets in order to discover exactly where you encountered problems with the IRS. We will draw up an effective strategy to counter the problem and also advise on the best course of action in order to recover from this situation.
We are experienced in dealing with the IRS and can provide you with appropriate IRS representation in order to effectively protect your assets and also ensure that the IRS will not have cause to indict you.
Getting your IRS letter is not always cause for panic and is often on a misunderstanding and it is our responsibility here at [smith n smith] to provide the best IRS representation and clear the matter.
A client received a letter from the IRS regarding his prior year tax return. Unfortunately, he was being audited. The IRS believed that expenses for his LLC were overstated and disallowed certain deductions. In addition, the IRS stated that the client owed thousands of dollars in penalties alone. We met with this client and went over all of the relevant documents. We were able to guide him through the process and provide him peace of mind. Upon review of transcripts and various documents, we met with an IRS agent on behalf of our client. This ...
An owner of an auto shop came to Smith & Smith CPAs, LLC with a letter from the IRS.
This letter stated that an audit would be taking place. Having never been through an IRS audit, the owner needed help to prepare. We advised him on the process and shared our past experiences. When the audit came, we were there with him every step of the way.
An Oil & Gas company needed guidance on how to handle their growth.
They started as a sole proprietorship and were in search of a CPA firm that could advise them on how to handle the growth of their company. After searching for a firm, they decided to meet with Smith & Smith CPAs, LLC. In our initial meeting, we learned of their business and inquired about their goals. We decided that it was best for them to incorporate.
A group of doctors were looking for a CPA firm to help them form their new practice.
A group of doctors had been working for various practices and decided to form their own medical entity. They were sure that they could succeed given their experience and knowledge in their field of medicine. Needing a CPA firm to advise them on various tax decisions, they decided to seek the services of Smith & Smith CPAs, LLC.
A cardiologist received a letter from the IRS for delinquent payroll taxes that had already been paid.
The cardiologist was sure that the payroll taxes had been paid however, he needed help to prove this was the case. Our CPAs reviewed the tax payments and reconciled them to the various tax liabilities. Upon completion, it was determined that the aforementioned taxes were indeed paid. The issue was that they were applied incorrectly.
The IRS released modifications to their automatic accounting methods (Rev. Proc. 2016-29) on May 5, 2016. This change allows the List of Automatic Changes permitted to be filed under Rev. Proc. 2015-13, and replaces the Rev. Proc. 2015-14 guidance, which contained the current list of automatic changes. Listing the Major Changes that can Affect Income for Businesses As a Taxpayer, you can no longer make an automatic change for an impermissible to a permissible method of accounting for depreciation on any property for which you have claimed a federal income tax credit. The percentage-of-completion method for long-term contracts is now…