Need For Honest Tax Professionals

Are You At Risk?

A recent IRS report has highlighted the need for honest tax professionals, because many tax "experts" are leaving their clients at risk of serious penalties. Is your current tax professional putting you at risk?

Like most Americans, you probably want to receive a larger refund from the IRS. You should be aware of every tax deduction that you can legally take advantage of on your income tax filing

However, some people either unknowingly or intentionally try to take advantage of income tax deductions that they shouldn’t be receiving, which get them into major trouble with the IRS.

Need for Honest Tax Professionals

A recent report from the IRS shows that many people are illegally taking advantage of tax credits that they shouldn’t be receiving.

While many of these people aren’t knowingly doing anything wrong, they risk massive penalties or possible criminal charges and may end up needing income tax resolution help due to the actions of unscrupulous tax professionals.

This report clearly demonstrates the need for honest Santa Rosa tax professionals. The IRS states that many people aren’t trying to actually break the law.

Some dishonest tax preparers are actually illegally taking misrepresenting their clients’ income, which means unsuspecting clients can face serious consequences down the road.

You should speak with a legitimate tax expert to ensure you aren’t violating any laws.

Are you or your tax professional making any of these mistakes, or do you have a need for honest Santa Rosa tax professionals help?

Need For Honest Tax Professionals - Warning 

The IRS recently warned people about a recent scheme that many dishonest tax preparers are using. They will over report their client’s income to help them receive a larger tax return.

How can this possibly work? Aren’t you supposed to pay higher taxes if you have a higher income? Not necessarily.

There is a loophole in the tax code that dishonest tax preparers are illegally taking trying to exploit, which could be leaving their clients at risk.

This new scam works by taking advantage of the Earned Income Tax Credit, which is a provision created in 1975 to reduce hardships for low to moderate income families by lowering the tax owed to the IRS.

There is a need for honest Santa Rosa tax professionals as many people may receive tax returns for money that they earned, even if they didn’t pay taxes during the year.

According to the Intuit Tax Calculator, a couple of two earning $20,304 or less wouldn’t have to pay any taxes in 2014. However, they would still be eligible for a tax credit.

The Bankrate tool shows that if a couple reported that their income was $20,304 (enough to not have to pay a cent to the IRS), then they would receive a tax refund of $12.

If they reported that their income was $15,000 then they would receive $417. The credit would be much higher if they had children.

The catch is that you can only receive the earned income tax credit if your income is over $13,650. If your income is below that limit, then you still won’t have to pay taxes to the IRS, but you won’t receive a generous refund.

The IRS recently reported that some dishonest tax companies are illegally over reporting clients' earnings to help them receive a credit that they are not eligible for.

These agents are often compensated a percentage of their client’s tax refund, so they have an incentive to lie to help you get a larger return.

Why should you be concerned if your accountant is helping you receive a larger refund? Because you are the one that the IRS will come after if they find out.

The IRS plans to start cracking down on this problem, because some experts estimate that the fraud rate is about 25%, which is a serious cause for concern.

You will need to make sure that you hire an honest Santa Rosa tax preparer to avoid these consequences.

Honest Tax Professionals Summary

The need for honest tax professionals is of utmost importance in today's complex financial landscape. Here's a summary highlighting the significance:

  1. Compliance and Integrity: Honest tax professionals ensure individuals and businesses adhere to tax laws and regulations with integrity. They play a crucial role in upholding the principles of fairness and transparency, fostering trust in the tax system.
  2. Accurate and Ethical Tax Filing: Tax professionals with a commitment to honesty prioritize accuracy and ethics when preparing and filing tax returns. Their expertise and adherence to ethical standards reduce the risk of errors, omissions, and potential audits or penalties.
  3. Maximizing Tax Benefits Legally: Honest accounting professionals possess the knowledge and experience to navigate the intricate tax codes while optimizing tax benefits within legal boundaries. They help clients identify legitimate deductions, credits, and incentives, maximizing their tax savings.
  4. Trust and Confidentiality: Clients place immense trust in tax professionals when disclosing personal and financial information. Honest professionals prioritize client confidentiality, maintaining strict ethical standards to safeguard sensitive data and foster long-term relationships based on trust.
  5. Representation and Compliance Support: Honest tax professionals can represent clients during tax audits, investigations, or disputes. Their integrity and expertise provide reassurance and support in navigating complex tax situations, ensuring compliance and protecting clients' interests.
  6. Ethical Business Practices: Honest tax professionals contribute to a fair and ethical business environment. By operating with honesty and integrity, they uphold professional standards, fostering a culture of ethical behavior within the tax profession.
  7. Protection against Fraud and Scams: Honest tax professionals serve as a shield against fraudulent activities and scams targeting unsuspecting taxpayers. Their vigilance and commitment to ethical practices help safeguard clients from falling victim to fraudulent schemes.

In conclusion, the need for honest tax professionals cannot be overstated. They are essential in ensuring compliance, accuracy, and ethical practices in tax filing. By maximizing tax benefits legally, fostering trust and confidentiality, providing representation and compliance support, and upholding ethical standards, honest tax professionals contribute to a fair and transparent tax system, protecting taxpayers' interests, and maintaining the integrity of the profession.

Need For Honest Tax Professionals - Hiring

At Horne Financial, Services we are committed to helping you receive every cent that you deserve. However, we also want to make sure that your taxes are honestly reported so that you don’t get in trouble if you are audited by the IRS.

Please don’t hesitate to contact us if you need for an honest Santa Rosa tax expert. We look forward to helping you receive the refund that you deserve!

You might like these

More About Income Taxes

Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you every month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.

Enter Your E-mail Address
Enter Your First Name (optional)

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Bookkeeping Basics E-Zine.


New! Comments

Have your say about what you just read! Leave me a comment in the box below.