Thank you for coming to our offices and allowing us to review and discus your concerns regarding your tax questions. I have been assigned to reply to your questions and I have listed my recommendations below. After you both have reviewed these recommendations, please contact me so we can go over any additional questions you may have.
Furthermore, to minimize your federal tax liability, it is important to be prepared if the IRS decides to re-compute your personal income or the income at a
Customers value their time and money and are seeking a fast yet affordable method of having their taxes prepared.
The current income tax system is inherently complex. The guide provided to citizens to fill out their 1040 taxes has 288 pages of instructions. (IRS, 2014) The US tax code is too complicated. What is the average American to do? The answer is that most Americans turn to outside preparers or tax preparation software to figure
In preparing or signing a return, a member may trust the information furnished by the taxpayer or by third party. Nevertheless, tax preparers cannot ignore the information to be incorrect, incomplete or inconsistent. Further, tax preparer should certain the tax returns related information and consider any confidential limitation that imposed by any laws or rules. Even though there is no need for a member to exam the supporting data, the member is required to encourage the taxpayer to provide correct supporting data. Besides, a member should use a taxpayer’s returns for one or more prior years in preparing the current year tax return whenever
The IRS’s Future State initiative give taxpayers who do not want to speak with the IRS online, the options to speak by phone or in person. National Taxpayer Advocate Nina Olson said the IRS should aim to “’build trust, not just by creating an online account by which they can look up what they owe’”. The Future State initiative is in place to further advance the online resources available to taxpayers this will further improve tax returns.
As a friendly reminder, the 2015 tax season will soon be here, which means it will be time to formally submit tax returns to the Internal Revenue Service (IRS). We have realized that in many cases, by the time our clients’ contact us to formally file their tax returns for the current tax year, a third of the way into the following tax year in when this occurs. Understand, it does not have to be doom and gloom though. For all of you that are our existing clients and those of you that will be our future clients, we want you all to know that The Dynamic Tax Services, LLC is here to help along the way. As you will find attached the early 2015 tax year flyer, we ask that you please share this flyer with your family, friends,
Tax troubles are some of the worst that one can experience in life. You can find yourself immersed in a pile of tax debt, and feel like there is no way out. And situations of this nature can be even worse, and far more entangling if handled incorrectly. You could end up losing everything that you’ve worked hard for in life. Tax filings must be done correctly, on time, and all tax money owed completely paid up or you could be facing a pile-up of debt, leading to a potentially serious crisis financially that could severely impact you and your families’ lives for years to come. Hence, tax issues should be taken extremely seriously.
Here on our website you will be able to find answers to many of the questions that you may have about the tax problems facing you. If you do not locate an answer to your questions don’t hesitate to contact us by phone or online by filling out the form on the contact page. We will get back to you as quickly as possible without any obligation.
If you get a professional tax preparer that you can trust, filing tax returns in the future will be an easy process. By working with them, they will have a clear understanding of your tax situation. You can call them or talk to them anytime you find yourself struggling with tax penalties, back taxes. They can also offer you valuable advice when you are dealing with the IRS. The tax preparer should be like a trusted advisor that you can rely on any time you need help that
Revenue generated through tax receipts ideally should exceed annual costs on various government operations. Moreover, the economic considerations involving amendment of Internal Revenue Codes for various depreciation deductions for purchase of business property and research/development deductions credits1. The second consideration, referred to, as social consideration give tax benefits to the employers encouraging health insurance and deduction for charitable contributions by employees as well as private companies. The equity considerations enable individuals or corporations to avoid the effect of double taxation on their taxable income. This could be necessarily ensured by deducting state and local taxes from Gross Income. The credit or deduction for certain foreign taxes and deductions for dividend received by corporations to avoid triple taxation. The
People also say that taxes for the uses and service and personal, make this a difficult choice for those who pay tax.
Dynamic Tax Services will prepare your 2017 (and any prior years as requested) federal, state (if applicable) and
The United States tax system is in complete disarray. Republicans and Democrats agree that the current tax code is complex, unfair, and costly. The income tax system is so complex; the IRS publishes 480 tax forms and 280 forms to explain the 480 forms (Armey 1). The main reason the tax system is so complex is because of the special preferences such as deductions and tax credits. Complexity in the current tax system forces Americans to spend 5.4 billion hours complying with the tax code, which is more time than it takes to manufacture every car, truck and van produced in the United States (Armey 1). Time is not the only thing that is lost with the current tax system; Americans also lose
The information that I am currently learning right now in my tax class will help greatly as I