Accounting Today reports that the IRS has sent letters to thousands of small business owners questioning whether they underpaid their taxes last year. The “Notification of Possible Income Underreporting” letters asked employers to review and confirm their 2012 tax filings.
Small business owners certainly felt the letter put them in the spotlight. Knowing that IRS audits can lead to years of potential headache, CPA’s have been responding to the letters and reassuring clients. The Accounting Today article lists a set of 20 best tax practices for small business, and the list focuses generally on compliance, record-keeping, and cash flow.
At Bullock, Garner, & Leslie, we know that letters from the IRS can be scary. That’s why we’re your CPA in Melbourne FL committed to helping you file correctly the first time, and rest easy knowing your business is in excellent shape. We invite you to join our client family in knowing that the IRS can rest assured that taxes and incomes were filed lawfully. Call us today to start building peace of mind!