The tax and regulatory environment of your business are tied to your industry. Finance, Retail, Manufacturing—each specialized sector requires business professionals attuned to that industry. Just as you would not use a divorce attorney to work out a tax controversy with the Internal Revenue Service (IRS), business owners are wise to consider the expertise of accountants and specialty tax practices before entering a service agreement.
Consider these points if you are already using a tax service or if you are thinking about outsourcing your tax preparation:
You remain responsible for the accuracy of tax returns prepared on your behalf. If you are considering an outsourced vendor for your tax or payroll services, reputation and reliability are critical when choosing a tax practice. The homework you do ahead of time to select a tax preparation service will show in the service you receive and the peace of mind (or lack thereof) that you experience as a result of your choice.
Despite best efforts, if your tax return is challenged, or you are notified about an IRS audit or potential tax litigation, be sure to speak with a trusted tax attorney about your options.
Serving clients from offices in Chicago and Cleveland, the tax group at Robert J. Fedor, Esq., LLC helps you respond strategically to questions concerning offshore tax assets, failure to file returns, and other compliance questions. Call 800-579-0997 or contact us today.