Can you solve your tax problem yourself?
Most of the people at the first place try to solve their tax problems themselves or maybe with the help of tax preparer.
They think that they can save a big amount of money that they have to spend otherwise on hiring tax representation services, by doing the job themselves.
Most of the people do not prepare well in advance to represent themselves in audits and hope for the good results.
They think that they can impress the auditor by their good, decent, law-abiding and not a criminal image.
They expect that the auditor will be sympathetic and politely let them go. That is not going to happen! The auditors are good and decent people too, but the rules are the same for everyone. You may take help from a professional and experienced tax accountant in Sydney to do the job well.
Effective dealing with the audits and other tax problems requires expert knowledge and understanding.
The need to hire professional tax representation
Each situation is different from another, but in most of the cases if the tax debt that you have to pay is more or if the authority is requesting for more information then you should immediately hire reliable tax preparation services.
Usually, the tax relief services are categorized into two groups – Collection issues and Audits.
Collection issues involve problems like tax penalties, payment of back taxes and tax clearings. If your tax debt is under $1,000, then you don’t need to hire tax representation service. Most of the tax representation companies will not take your case if your tax debt is less than $10,000.
Audits are related to a previously filed audit of tax returns and are done mostly via letters, office visit or inspection driven by an official at your business place.