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.

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.

Tax Software

Individual Tax Returns have been traditionally the domain of desktop software. Laptops are lugged from client to client with rekeying and transcribing information as a common practice. The entire system leverages on Australian Taxation Office’s ELS (Electronic Lodgment Service) platform in itself a legacy and unreliable system.

ATO now confirms its determination to phase out ELS by 2015 onwards in favour of SBR (Standard Business Reporting) solution, a more effective and faster way of financial reporting.

What does this mean for the tax agent? After all, the best technologies used improperly do not help in the efficiency of overworked tax practitioners. Will simply changing the ATO’s infrastructure help tax agents to be more efficient? The answer is no.

As more and more applications are moving towards the cloud, statutory and financial reporting is non exceptional. Australia’s first ITR on Cloud solution via the GovReports platform was released last September, a fully managed solution that brings the flexibility of desktop solutions and multiplies it with the power of the cloud.

Here are top three reasons why tax payers should move to ITR on Cloud with GovReports.
• Access anytime-anywhere. Tax agents are no longer restricted by their desktop. You can bring tax returns straight to your clients by offering a personalised service via GovReports (Tax Software) secure cloud platform.
• Nothing to install or update. GovReports (Tax Software) is a fully managed service. ATO updates such as forms and schedules are updated without having to reinstall software.
• GovReports (Tax Software) acts as an electronic archive to securely keep client attachments online reducing the need for desktop clutter during tax season. Using latest storage solutions everything is storable and searchable.
GovReports (Tax Software) as a one-stop-shop for financial reporting brings state of the art technologies to traditional platform. And as one GovReports’ clients reference:

‘Using GovReports (Tax Software) in comparison to Agent Portal is like comparing driving a Mercedes Benz with Model T-Ford. They both achieve the same result but the ride is very different’