The Medford Tax Experts, Inc.
425 High Street, Medford, MA 02155
What we mean when we say "Relax and let an expert do your tax" is that taxpayers are trying to do the right thing and file an accurate tax return. Allow us to help ease the stress.
What's with the Tax Gap?
You were once cautioned about going over the Fiscal Cliff. Now beware of the expanding Tax Gap.
The IRS is on a mission to close the tax gap between income Americans earn and income Americans report on their tax returns. As part of this mission a set of four new under-reporting letters is issued by the IRS. If you receive a Notification of Underreporting, contact the Medford Tax Experts today. A delay will only magnify and exacerbate the problem.
IRS attention to close this tax gap of almost $400 billion is spent on non-W2 wage and earned income. If you run a small business, you are obligated to keep source documents and adhere to generally accepted accounting practices.
Divulging poor record keeping habits to the IRS will create massive headaches for you. The penalties for willful neglect will cost you a lot of money and consume a tremendous amount of your time. Contact the Medford Tax Experts for assistance with your record retention responsibilities.
execute compliance checks before issues refunds
develop sophisticated compliance strategies
require more third party information
- increase IRS enforcement efforts
- leverage whistleblowers
optimize professional preparer services
modernize computer operations
simplify the tax code