The Role of the Tax Consultant

The most common role of a tax consultant is that of tax preparer. Both the public and the corporate world alike need help preparing and filing their tax returns. This is a valuable service since improper filing can lead to the paying of penalties. A taxpayer can also miss out on rebates if their tax returns are not prepared correctly. A tax consultant can save large companies or corporations tens of thousands of dollars in penalties by preparing and filing their tax returns for them. The consultant is extremely useful during an audit also. Generally the consultant will be allowed to act as a representative for the taxpayer or company being audited. This means the consultant can answer many of the questions asked by the tax officials.

A second role of the consultant is that of tax advisor. This would include such things as changing how a business is set up. Maybe a partnership wants to incorporate or a sole proprietorship takes on a partner. Another thing a consultant may give advice on is rearranging payments and income to fall into a different tax year.

Something else a tax consultant does is help with estate, gift, and trust services, allowing you to leave a legacy for others.

It is not uncommon for the tax consultant to have an area of expertise. This could include such things as property taxation, business taxation, trusts, estates, or tax law regarding charities. Usually the specialist will have formal training in that particular field and will have experience dealing with such cases.

The rules for obtaining a tax consultant's license vary from state to state. There are some things that always apply however. For instance a person applying for a tax conultant license must be 18 years of age. They must be able to furnish proof of experience in the trade and they must demonstrate a knowledge of tax law and tax preparation.

Tax consultants charge fees in various ways. Some may charge a flat fee, some base their fee on the amount of time they spend on a project, and others may charge a percentage of any rebate they are able to obtain.

There are many professionals available to the public and to large companies alike. It is always a wise idea to shop around to find the one that fits best.

Get up-to-date information on all things related to tax and see how tax consultants can assist you.

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Houston Dallas Austin San Antonio Bankruptcy Attorney Alex Wathen 888-305-1919 against GMAC bailout

Houston Dallas Austin San Antonio Bankruptcy Attorney Alex Wathen 888-305-1919 speaks out against a bailout for GMAC who first needs to stop demanding reaffirmations of consumers in bankruptcy, modify auto loans of distressed consumers, stop sending unsavory repomen who use deceit and trickery to get consumers cars, and overall GMAC needs to become more consumer friendly before they deserve a penny of tax payer money for a bailout. We should help consumers instead. GMAC needs to help consumers in bankruptcy. Lawyers are needed to fight GMAC and modify auto loans in bankruptcy.



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2'5 Mar.10 Alan Watt Cutting Through The Matrix 2010

Government Runs with Lawyers and Marketeers, Plus Academia, They're Racketeers: "Masters Use Lawyers to Scheme and Cook, To Get Each New Law Onto the Book, Each 1000-Page Law (Legalese Demanded) Once On the Books is Then Expanded, Three Amendments Down the Road, Shows Real Intent of the Slimy Toad Who Lives within Well-Funded Think-Tank, Where Each Part of Agenda's Called a 'Plank,' Specially Trained in Art of Deception, Where Truth Takes Artist in Detection, All to Ensure Slaves are Easily Managed, And Master Class Goes On -- Undamaged" Topics of show covered in following links: Patients' Medical Records go Online Without Consent www.telegraph.co.uk National Health Database for All www.theregister.co.uk Death Tax for Elderly www.timesonline.co.uk Holland Champions Next Stage of Government Approved Euthanasia-by new Professional Terminators www.dailymail.co.uk Innsbruck Political Scientist Claims US HAARP at Alaska Caused Haitian Earthquake www.austriantimes.at US Free Trade Heating Up www.nytimes.com Snow falls on French Med. Beaches www.theweathernetwork.com



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What to Do If You Are Being Audited

The number of taxpayers that the Internal Revenue Service selects for auditing has doubled. Despite this fact, only one percent of all Americans receive audits each year. Yes, this minimizes the likelihood of you being audited but there is no guarantee that you will not be selected for auditing.

Let us say, for instance, that after all your efforts, you suddenly receive a notification in your mailbox that your tax return is subject for auditing. What do you do then? If you do not know what to do, then the first thing will be to breathe a number of deep breaths, so you can calm yourself and get back to reality. Make sure to tell yourself it is not the end of the world. In fact, there are actually some things that you can do to prepare your tax return and yourself as well, for that big day when you will get to experience the IRS's severe scrutiny.

The first thing you could do to prepare yourself is to read Publication 1 of the IRS Code. This thoroughly explains your rights under the Taxpayers' Bill of Rights so you can have some confidence and know what the things you can do that the IRS has no power over.

Also, try your best to delay the audit. When you get audited, you have to be sure that all your records are accurate and in order. If this entails more time, request for it. In addition, you should know that reconstructing receipts or documents that are missing is allowed.

You might also want to hire a tax lawyer for you, especially if you are alien to the legal process and the tax laws. Moreover, do not agree to have the audit performed at your home. Rather, go to the office of the IRS and have it done there. Alternatively, you can have your lawyer go there to represent you instead. If the IRS pressures you because they want the audit done at your home, do not give in. You should know that it is your legal right to schedule the time and place for an audit.

Another thing to remember is that you should not bring any document that was not requested specifically by the IRS. Do not give them more than what they need. During the audit, do not volunteer any information unless necessary. Answer only when asked. Or better yet, have your tax lawyer answer for you.

If you speak with a lawyer and account and come to realize that you owe more taxes than you can pay, then it might be worthwhile to consider your bankruptcy options, so that you can understand the best course of action you can take to get your financial situation back on track.

For information on IRS audits and filing for bankruptcy, visit these informative sites.

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