This tax season, many tax returns were flagged by the IRS for inaccurate reporting, causing delays for taxpayers. Audits and reviews were carried out to ensure alignment between taxpayer-reported information and IRS records, leading to frustration among many taxpayers. Dr. Shawanda S. Moore professionally known as "The Tax Docta" emphasizes that reviews and audits are not always negative, provided that taxpayers can substantiate their reported information when requested by the IRS. A review allows the IRS to verify the accuracy of reported information, typically taking 60 to 90 days for fund release or additional information requests. An audit, on the other hand, ensures compliance with tax laws and the accuracy of refund amounts.
In the realm of taxes, there are countless opportunities to claim legitimate tax credits, yet some individuals engage in fraudulent activities related to tax credits like fuel, energy, and household employee credits, prompting IRS fraud alerts. To avoid unwanted attention from the IRS and stay on the right side of the law, Dr. Shawanda Moore wants everyone to consider these essential tips:
1. Check for Accuracy: Ensure precision when claiming tax credits to avoid triggering an audit or fraud alert due to even the smallest errors.
2. Report What You Can Prove: Provide documented proof for claimed expenses or activities to avoid IRS fraud alerts.
3. Read Before You Sign: Take the time to review tax returns thoroughly before signing off to avoid unintentional involvement in fraudulent schemes.
4. Beware of Too Good to Be True Offers: Stay cautious of exaggerated tax refund promises and consult trusted tax professionals if in doubt.
5. Stay Informed: Stay updated on tax laws and regulations, especially those related to tax credits, to ensure your claims comply with current regulations.
6. Consult a Tax Professional: It's crucial to consult a tax professional for expert guidance. Reach out to the qualified professionals trained by the Tax Docta within Royal Financial Services, LLC, located in New Orleans, LA, to receive assistance in navigating the complex world of tax deductions and ensuring the legitimacy of your claims. Serving all 50 states, they are well-equipped to provide the support you need.
Adhering to these tips ensures protection from IRS fraud alerts and potential legal consequences. Integrity, honesty, and accuracy are essential in tax compliance, so prioritize these values to avoid IRS issues.
Understanding the complexity of the IRS processes, Dr. Shawanda S. Moore advised her clients to seek assistance at her locations for IRS communications, understanding and support. Dr. Moore and her staff are also available to assist those experiencing IRS-related issues.
For the latest insights and updates on tax credits, visit our blog for valuable information to navigate the intricate tax landscape effectively and protect yourself from tax fraud. Remember, staying informed and vigilant is crucial to safeguard yourself and ensure a seamless tax-filing experience.
Royal Financial Services, LLC, based in New Orleans, LA, provides expert assistance to individuals across all 50 states. Their comprehensive services include individual and business tax preparation, non-profit tax preparation, bookkeeping, payroll, financial consultations, and support for business start-ups. For professional financial help, reach out to their office by calling or texting 833-769-2549 or visit their website at https://thetaxdocta.com
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