With everything going on here in Texas and across the country right now, stress levels are at an all-time high. Now that July 15 has come and gone, you may feel as though some of that stress is relieved, at least for now. Another tax season has ended, and you may be glad for the break. However, if the IRS has taken aim at your tax preparer business, you may be experiencing a tremendous amount of anxiety.
The problem is that by the time you realize your business is under investigation, the IRS may be ready to execute search warrants, seize your records and threaten you with criminal charges. Under these circumstances, it could be easy to panic and do whatever the agency says in order to make the problem go away. However, that may not be the best course of action for you or your business.
Granted, you will probably have some catching up to do. You will need to conduct your own investigation into why the IRS believes you have violated one or more laws. While there is a chance you made a mistake or an oversight, it should not necessarily mean you should face criminal and/or civil penalties. This step cannot be stressed enough. It would certainly be a mistake to respond to the IRS without first understanding the situation as completely as possible.
Like other tax preparers here in Texas and elsewhere, conducting an investigation and preparing a response to any accusations is often easier said than done. Fortunately, you do not — and probably should not — have to go through this alone. Working with an experienced attorney could help ensure you and your tax preparer business achieve the best possible outcome to your issues with the IRS.