Choose your tax preparer carefully!

There are many fine tax preparers in the Texarkana area who are competent, ethical, and want to do the right thing. Unfortunately, there are some who aren't and that can lead to big problems for taxpayers. I have spent most of the day with an IRS agent representing one of these taxpayers. The reason the IRS is auditing the taxpayer is due to the omitted items and generally poor job the tax preparer did on this return. It resulted in the taxpayer being audited.  

In the past year, I have represented numerous taxpayers with a similar plight. They trusted someone to do their return and the results were so poor the Internal Revenue Service decided to inquire about the return. Just one tax preparer who doesn't do the right thing can impact a large group of taxpayers. Often the records are scarce and the tax preparer will not respond. This makes working out a remedy with IRS even more difficult. When you choose your tax preparer think about credentials and experience. Do they have a year round office and return their phone calls?  Remember, if you get promised something that doesn't seem right it probably isn't. This could lead to bigger problems later so carefully choose your tax preparer!



RobbyPhone: 903-792-0281
www.selphandfridaycpa.com
Email: rselphcpa@cableone.net

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Is Selph and Friday CPAs Taking On New Customers?

I write this post because every year, about this time, I get several phone calls from potential customers who ask, "are you taking on new customers?".  My standard answer is every chance I get. This normally draws a laugh and we go from there. We have served the Texarkana, Arkansas and Texas area along with the surrounding counties since November 1, 1986. I believe people assume we have been here for 27 years and have all the customers we want.  We enjoy our regular customers and look forward to solving issues for new ones as well. Are we taking on new customers? Yes, every chance we get.

Robby
Phone: 903-792-0281
www.selphandfridaycpa.com
Email: rselphcpa@cableone.net

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Can You Settle An IRS Debt for $1 (One Dollar)?

Yes, if you have no ability to pay and no equity in assets after completing the IRS financial statement 433A or B. It's called an offer in compromise and is filed on IRS form 656. The form says the offer must be more than zero ($0) and payable within 90 days of the notification of acceptance. I submitted several offers for taxpayers in the Texarkana area for $1 and those that have been accepted have been negotiated to a higher amount until recently. I realized my goal and had an offer accepted for $1.00 so it can happen. You do have to meet all the requirements of acceptance and they do keep your tax refunds for the current year. The IRS fresh start initiative announced by IRS in April 2013 did relax some of the requirements for an offer in compromise and make this a more attractive option. As always we will meet with you, gather the necessary documents, and determine the appropriate course of action for your federal or state tax debts. If you qualify an offer in compromise can be an excellent way to resolve a tax debt for less than you owe. Maybe even $1.00 will take care of it. 


Selph & Friday CPA
Phone: 903-792-0281
www.selphandfridaycpa.com
Email: rselphcpa@cableone.net

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