We’ve listed some of our services below. We offer our clients an array of services that are not listed here.
What you need to know about tax form 1040. The 1040 tax form can be complex but our basic online tax filing process makes it easy for you to file your federal taxes online or at our tax offices.
Most people use IRS Form 1040 to file their individual tax return. This official document is a requirement for many US taxpayers reporting their income to the IRS. The form has several sections, all of which are required to be completed with accurate information. In short, IRS Form 1040 tax form allows a place for individuals to report their income and deductions for a given year. This form also helps you to calculate the amount of taxes you owe or, in some cases, if you are owed a refund.
When you work with Block Advisors, a roster of highly responsive professionals with deep expertise will be at your service. So you’ll have the help you need, whenever you need it. Your designated team will include an experienced CPA, bookkeeper and tax .
The days of delivering a shoebox full of receipts and invoices to your accountant are over. With Block Advisors, all it takes is a smartphone and a one-touch scanner that we provide. Whether by email, scanner or smartphone you send us the invoices we need with the press of a button or a swipe of your thumb. Everything is automatically saved to the cloud, and we take it from there. Now go run your business.
Selection for an audit does not always suggest there’s a problem. The IRS uses several different methods:
Random selection and computer screening – sometimes returns are selected based solely on a statistical formula. We compare your tax return against “norms” for similar returns. We develop these “norms” from audits of a statistically valid random sample of returns, as part of the National Research Program the IRS conducts. The IRS uses this program to update return selection information.
Related examinations – we may select your returns when they involve issues or transactions with other taxpayers, such as business partners or investors, whose returns were selected for audit.
File your federal tax returns for missing years as soon as possible to avoid possible tax liabilities, claim a refund for the previous 3 tax years, protect your Social Security and disability benefits, and avoid delayed loan approvals from lenders. If you have received a notice in the mail, promptly send your past due tax return to the appropriate IRS address.
Negotiation with IRS
A professional representative can usually be of significant help in negotiating the most favorable possible compromise or installment agreement. That said, beware the “pennies on the dollar” firms or 1-800 number firms that advertise on late-night television, Brown says. “In many instances these firms will simply take a client’s money and perform no or minimal services,” he explains. “Many of these firms have been prosecuted in their states of origin for unlawful and deceptive business practices.” If you are interested in obtaining representation, interview two or three potential firms in your city,” he advises. Make sure that IRS tax controversy and IRS collection resolutions are the backbones of their practices. Many attorneys and Certified Public Accountants (CPAs) do tax planning but rarely interface with the IRS. It’s important that your representative has deep experience negotiating with the IRS in back taxes payment cases
So it makes sense to have a year-round Tax Advisor to help you stay the course. Right?
Ready to take things up a notch? Your Tax Advisor awaits.
Please contact us on any of these mediums so we can begin to help you right away.