When you open your mailbox and find a simple white envelope with the return address containing the words “Internal Revenue Service” or “State Tax Commission”, you might feel your heart skip a beat as anxiety sets in. It could be a simple notice informing you of your Identity Protection PIN, or a request for more information, or possibly a notification of something more serious, such as potential tax identity theft or an impending audit. Once you steel yourself to open the envelope, it’s likely that your initial thoughts will be along the lines of “How do I handle this?” and “Who can help me?” This is the reason that we at Myrick CPA are introducing the Client Care Services Plan - for your peace of mind.
Official Notice Anxiety Syndrome
Official notices regarding financial concerns can cause anxiety for anyone: individuals, married taxpayers, and small business owners alike. Our minds seem to imagine the worst-case scenarios more readily than any positive possibilities. Whether you filed your own taxes or had them prepared, you immediately start to question math skills, whether all the regulations were followed, and what might have been missed.
Anxiety at tax time is common and can result in headaches, muscle pain, nausea or fatigue. Some individuals even experience cardiovascular and breathing difficulties associated with stress and anxiety. However, there are steps you can take to reduce the stress of tax time and the anxiety associated with notices received from government agencies.
Use a sensible filing system to keep important information. Your organizational methods don't have to be complicated or fancy as long as the needed information can be easily found.
Keep up with your record keeping throughout the year. Waiting until the last minute can lead to missed items and cause added anxiety at an already stressful time of year.
Don’t wait to respond to notices. Promptly responding shows the taxing entity that you’re engaged and gives you time to gather additional information you may need.
Hire a professional accountant to assist you with your record keeping. Not only will they help ensure you follow all the regulations, but they can help you to properly respond to any notices.
Maintaining Your Peace of Mind Throughout Tax Season and Beyond
Recently the IRS and other state tax agencies have received funding to increase the number of audits performed and the collection of tax debts. This means that even properly prepared tax returns for individuals and small businesses, payroll, sales and income taxes may be subject to an audit or review. Some matters may be resolved with an explanatory letter, while other tax resolution services can be much more involved. Traditionally, CPAs and tax preparers are available for questions regarding taxes they have filed, but the hourly fees for services can be prohibitive.
Myrick CPA now offers its clients a new way of managing and responding to tax-related notices. Our new Client Care Services Package Plan includes an Audit Protection Plan for returns filed with Myrick. For a nominal annual fee, clients will receive 10 hours of services from specialists who will respond to IRS notices and help negotiate and resolve issues on your behalf. Please let us know if you'd like us to send you more detailed information about what the plan covers.
If you are interested in learning more about Myrick CPA’s new Client Care Services Package Plan or any other accounting or advisory services, contact Myrick CPA to schedule an appointment and take a step toward alleviating your tax-related stress, and providing you with peace of mind throughout the tax season and for the rest of the year.