Prior to the recession, approximately four years ago, your small business was in pretty good shape. However, this year the IRS has found that you owe two years of back taxes. Your not only struggling keeping your business afloat because of the economy, but now you have added worry about how you’re going to pay tax debts. Now would be a good time to get business tax debt help from a professional tax relief attorney.
Now, more than ever you need to ask professional tax debt attorneys and find out the right information because after all, you need money just as much as the IRS needs to collect taxes. Getting the correct perspective might just save your business from going out of business.
Your accounting skills may come into play as you should be prepared to show proof of business expenditures that were not covered in tax deductions prior. Any good tax relief attorney will tell you to be prepared and that just because you are a small business you are able to use official expenses in order to reduce taxable profit.
Prepare yourself each and every year as the expenditures should relate with the taxable years that are being questioned. If you haven’t done this prior, now is a good time to start . For now you can use your unpaid bills and receipts for the current year as this will establish that you just can’t afford to pay those back taxes.
Your tax relief attorney will help with establishing that and get business tax debt help for you as you need it. The IRS doesn’t want to close down small businesses because of back tax debt. Isn’t that what tax debt relief is for?
Your tax debt attorney will help to provide the correct document showing proof of your incapacity to pay. They will present that proof during the proceedings. Even though the IRS really wants to collect on those liabilities, they wouldn’t turn their heads on allowing some kind of tax debt relief.
If you want to find something good out of this recession, it may be that the government is trying everything possible to keep everyone afloat and that would include tax debt relief.