Taxation Softwares In Australia

GOVERNMENT REPORTING: DIGITAL BY DEFAULT

With the Federal Budget just around the corner, the Government’s annual budget is once again under scrutiny. What will be cut? Where can the Government makes its savings? What worthwhile projects should taxpayers money be spent on? Where can waste be identified?

Successive Governments have talked about cutting red tape and reducing costs for businesses. As we know, time is money for businesses, especially small business which is the backbone of the Australian economy.

There are 2 million small businesses that employs 7 million people in Australia, making up almost 60 per cent of the Australian workforce. Its campaign ‘toobigtoigrnore’ called for less Government interference and demanded for a more efficient and simplified tax system.

After all, it is small business owners who are the ones who put their homes and family life on the line and take risks to do what they believe in – to be self-sufficient, to create jobs and support their local communities. And despite putting their money and life on the the line to help create local economic activities, they are constantly being stifled by Governments interference and bureaucratic burdens.

One of the ways to reduce red tape is through streamlining businesses? reporting to Government. This process is still heavily manual and labor intensive. Data is copied by hand from one computer system to another, or on to paper forms. Some reports require businesses to send a CD with information on it. For example Pay-As-You-Go (PAYG) Annual Summaries report requires a copy of all group certificates recorded in a specific format to be sent on a CD to the ATO. This means manually burning a CD and sending it in an envelope to the ATO, and often repeating the process on request from the ATO where a CD has been damaged or saved in the wrong format.

A small company, Impact Management Group (IMG) has developed an innovative system that makes whole-of-government reporting more transparent, accountable and, more importantly, saves time and money. It?s cloud-based lodgment portal – GovReports(Tax Lodgement software), provides the solution to the red tape and efficiency problem that a small business faces when they report and lodge to the Government.

IMG’s Marketing Director, Tiana Tran, said GovReports(Tax Lodgement software) enables AUSkey holders, a secure identification login key for tax practitioners and businesses, to do all of their online reporting and compliance requirements to the ATO and other Government agencies on GovReports’ SBR enabled secure cloud-based system.

The Federal budget is just 9 days away, and we’ll be hearing more about red tape reduction and tax reforms,- Ms Tran said.

“One of the solutions for the Government is to look at streamlining reporting processes for small business and at GovReports(Tax Lodgement software) SBR lodgment portal we have the unique and innovative solution to help businesses” she said.

Business can access and input their data anywhere and anytime. Lodgments can be viewed in real time, and users can receive instant responses from the ATO, ASIC and OSRs- Ms Tran said.

Currently, more than 70% of the information contained on reporting forms is duplicated. This means filling out the same information on different forms for different Government departments.

Some reports are able to be lodged online using ATO Electronic Lodgment Service (ELS) or the Business/BAS/Tax Agent Portals. Despite helping to eliminate paper lodgment, these portals do not remove the need to manually copy data. Also, these services frequently crash during peak periods around deadlines for lodgment of forms. Many tax agents report having to assign staff to spend hours/days waiting for the ATO portal interface to resume and resubmit reports.

The Government’s Standard Business Reporting Program (SBR) aims to cut down on red tape for businesses around Australia. In 2012, the Australian Government Productivity Commission estimated the potential benefits of SBR to business, under the program?s initial financial reporting scope, to be in the order of $500 million a year based on 60 per cent take-up.

To date, IMG’s GovReports is one of the few cloud applications that has successfully interfaced with the ATO’s SBR program.

IMG’s GovReports will continue to collaborate with Government agencies like ATO and ASIC, to develop a more convenient and paperless tax and compliance lodgment solutions for businesses. It is shaping up to be the leader in Government reporting software service within Australia?s booming digital landscape which is in line with its ‘Digital by Default’ agenda.

IRS Tax Problems and Solutions

Your IRS tax problems begin with an IRS notice in the mail. Rest assured, you are not alone – there are thousands of taxpayers out there who are facing. IRS audits right now and don’t know where to start.

Dealing with the Internal Revenue Service (IRS) for your tax problems often requires specialized knowledge of US tax law and IRS procedure.

Why are you facing IRS tax problems?

The IRS notice or letter from the IRS will often explain why your tax return has been selected for examination. Depending on the complexity of your IRS tax problem, you might want to either resolve the issue yourself or ask for professional help.

What should your course of action be?

There are different types of IRS tax audits. Is it a correspondence audit where the IRS asks you to send copies of relevant documents for verification? Or is it a field audit where the examiner conducts the audit in person at their office or your place of business?

For the more simple IRS problems, you simply reply to the IRS letter attaching the relevant supporting documents requested. If provided, and you agree with the IRS’s claim for money owed, your solution is to simply send them payment for the assessed amount. You may disagree in whole, or in part to the proposed adjustments.

For the more complex examinations, you will be asked to call to schedule a meeting with an irs tax consultant and be provided with a more comprehensive listing of the documents requested.

Whichever the type of IRS tax audit you face, you must provide supporting documents in support of your tax return. Once you receive the IRS notice and understand your IRS tax problem, begin by gathering the relevant documentation to substantiate your claim.

Complex IRS Tax Problems need Professional Solutions

In the more complex IRS Tax examination, your IRS tax problems warrant a face-to-face meeting with the IRS examiner. In most of these situations, you will often need professional representation which by certified public accountants (CPA), licensed tax attorneys or enrolled agents. Only a CPA, enrolled agent or IRS Audit Tax Attorney can represent you before the IRS.

To find solutions to Payroll Tax Problems quickly and easily, you might want to take the help of the experts at irsaudittax.com. You will greatly benefit from their experience and expertise in resolving your tax problems. Perhaps, you might even walk away from that hefty penalty that the IRS has levied or save on your tax settlements with their help.

Handling the Payroll Tax Audit and Back Taxes

Did you get a payroll tax audit letter or IRS notice of back payroll taxes you owe? Does your Company owe back taxes? Payroll tax audits are no fun and usually open up lots of tax problems for examination by the IRS. IRS audits can be costly to represent and time consuming. If you have a payroll tax problem you may need IRS representation right away.

Not Paying Payroll Taxes

When times are tough and you need the cash, it’s tempting to pay your payroll taxes to the IRS later and use the cash now. Not only are tax penalties quite harsh, but these problems have a way of snowballing from one period to the next and never get paid; which is what gets you in really big trouble.

Not paying your income taxes is one thing, but not paying your payroll taxes is much worse. Not paying your payroll taxes is a crime and you can be held both criminally and civilly liable. This is because the IRS gives special treatment to payroll taxes as it is viewed as not your money. Not paying your payroll taxes is viewed as not paying the IRS amounts that belong to your employees – not yours.

Steps to Solve IRS Audit taxs Problems

Well, the first thing you do is simply pay the taxes you owe. Unfortunately, if that’s all there was to it, you probably wouldn’t be here right now. So what’s your next option?

Your second step is to stop the bleeding. So you made a mistake, you needed the money and you used the payroll taxes to pay your bills. The problem is you probably have done this over and over again. This is what the IRS calls “cascading”. You need to show the IRS that the problem won’t happen again. How do you do this? You pay the most recent payroll taxes first. That’s right! Not the oldest taxes you owe, but the most recent. And you keep on paying your payroll taxes going forward on time.

Your third step is to deal with paying the old taxes. You can usually pay this through an installment agreement, or payment plan to pay your taxes over time. How much you need to pay and when will depend on how much cash you have available to pay your taxes going forward. A tax problem resolution specialist can help you complete the calculations and remit all the paperwork you’re going to need.

Strategies for Paying Back Taxes

As you can see, there are back tax payment strategies that can help you. There are other strategies of which taxes to pay and when to pay them as well. Now, don’t look to the IRS to help you – they won’t. It’s not in their best interest. But an experienced tax problem resolution specialist can. You just need to find the right IRS examinations to help you and foot the bill.

How the IRS Collects the Tax Debt

IRS tax debt help Miami have a special place in the heart of the IRS. As previously stated, the IRS gives special treatment to payroll taxes as it is viewed as not your money. Accordingly, the IRS will hold business owners and other responsible persons personally liable for these taxes.

This means that if the IRS tax settlement Miami can’t get at the money because the business doesn’t have it, it will go after your personal bank accounts. If one owner doesn’t have the money either, it will go after the other, and so on until they find someone to pay it. It doesn’t even have to be the owner of the Company – it can be an employee, the bookkeeper, manager or accountant or just about any other “responsible person”.

If you think it’s unfair that the IRS is coming after you, or you work in a Company that’s not paying its payroll taxes and you have certain control over payroll, seek immediate IRS tax lawyers Miami professional help. Payroll Tax Audit, IRS Tax Audit, Payroll taxes, IRS tax consultant, Payroll Tax Problems