Nesso Offers IRS Audit Representation in Milldale, CT

Are you worried about an IRS audit? Understandably, many business owners, entrepreneurs, individuals, and families feel overwhelmed with the daunting task of preparing their taxes accurately. Not to mention dealing…

April 28, 2023

Written by Trey Bongiovanni

Are you worried about an IRS audit? Understandably, many business owners, entrepreneurs, individuals, and families feel overwhelmed with the daunting task of preparing their taxes accurately. Not to mention dealing with the possibility of a dreaded IRS audit. Going through an IRS audit can be incredibly stressful but having qualified tax advice and representation is essential for achieving a favorable outcome.

The key to minimizing stress during this process is working with tax professionals from Nesso Tax. Nesso Group is the right choice for your tax and audit needs. Our team of experienced professionals provides full-service solutions tailored to suit your financial circumstances. Nesso Tax is here to provide reassuring and reliable assistance every step of the way.

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Discovering Nesso Tax

At Nesso Tax, we prioritize client relations and satisfaction more than anything. Dedicated to providing the best possible service and support, our team of qualified professionals is equipped with the knowledge and experience to provide direction and assistance in understanding your finances. Our reliable communication lets us remain close to our clients while offering trustworthy advice on their taxes and audits.

With a positive outlook, we take it upon ourselves to provide comfort and clarity through thorough planning and insight into one’s wealth. This receptive attitude sets us apart from other firms and leads us toward creating lasting relationships with our many customers.

We Handle Your Personal Taxes

Our personal tax service allows you to manage your finances with ease. With a simple setup and guidance from experienced professionals, our service can help you understand the often complicated laws and regulations that govern taxation.

What are Taxes?

Taxes are government-imposed fees collected from individuals and businesses to fund various public services. Taxes can be levied on income, property, sales, and other sources of money.

How Do Taxes Work in Milldale, CT?

A government usually taxes its individual and corporate residents to help fund public works and services and build and maintain the infrastructure used in a country. The Tax collected is then used for the betterment of all those living within that economy.

People in the United States and other countries are taxed on money they receive from various sources, including salaries, investments, dividends, and more. A tax is a mandatory percentage of earnings or money the government must pay taxpayers. Those who don’t pay their full tax liability deliberately are committing tax evasion, which is punishable by law.

Types of Taxes We Help You Out with

Our team of experts can help you out with the following taxes:

  • Income Tax: Income tax is a tax that is levied on an individual’s income. This includes salaries, wages, commissions, and bonuses. Income taxes are deducted from your earnings at each pay period.
  • Property Tax: Property tax refers to the amount of Tax paid annually based on the market value of a property or real estate. Property taxes fund public services such as roads, schools, and other municipal projects.
  • Sales Tax: A sales tax is a tax imposed on the purchase of goods or services. Sales taxes are typically paid when used or consumed—for example, when buying products at a store or restaurant.
  • Payroll Tax: Payroll tax refers to the amount of Tax a company withholds from an employee’s wages and pays to the government. Payroll taxes fund public services such as social security, unemployment insurance, and Medicare programs.
  • Estate Tax: An estate tax is a tax on money and property an individual leaves behind when he or she dies. The proceeds from this Tax are used to fund various public services, including schools and hospitals.

 

If you need help with your taxes in Milldale, CT, look no further than Nesso Tax. Our team of experienced professionals offers full-service support, allowing you to easily manage your finances and stay on top of your taxes.

Do You Need to Pay Taxes?

The type of Tax you owe and the regulations associated with it will determine who is responsible for paying it. For instance, most federal income taxes apply to people above a certain income or adjusted gross income threshold.

Generally, corporate taxes are for companies conducting business in a certain area or registered to do business within specific countries. Also, it’s important to note that each Tax has its process, and there may be exceptions where it doesn’t apply.

We Help You with Your Income Taxes

Our income taxes service is second to none. We strive to provide our clients with accurate and reliable information whenever tax season rolls around, so you can rest assured that your filings will be impeccably accurate.

What is Income Tax?

Income tax is a tax that is levied on an individual’s income. This can include salaries, wages, commissions, and bonuses. In the U.S., the federal government collects income taxes. Then it distributes them to various public services, such as social security, unemployment insurance, and medicare.

How do I File my Income Taxes?

There are some ways that you can file your income taxes. You may choose to do it yourself, use an online tax service, or let our team of professional accountants and tax consultants help you. However you decide to do it, ensure that you keep accurate and up-to-date records to ensure that your filings are accurate and complete.

How do Income Taxes Work?

The Internal Revenue Service (IRS) is responsible for tax collection and enforcement in the United States. This organization has a complex system of rules about what income must be reported, how deductions work, etc.

The agency collects taxes from different sources of income, including but not limited to wages, salaries, commissions, investments, and business earnings. The personal income tax pays for government programs and services like Social Security and national security.

We Manage Your Individual Income Tax

Personal income tax, also called individual income tax, is money the state collects from your individual earnings. This includes wages, salaries, and other types of compensation. Most people don’t have to pay taxes on all their money because of special write-offs.

Our team at Nesso Group can help you calculate your amount of taxable income. The amount of your income that the government taxes depends on two things: how much money you make and your filing status. As you earn more money, you pay more taxes. The percentage of federal income tax ranges from 10% to 37%.

We Accompany You During Your IRS Audits

Our IRS Audits service is designed to help you navigate the complexities of annual audit proceedings, ensuring a swift and successful outcome.

What are IRS Audits?

An IRS audit is an examination of a taxpayer’s financial records, tax returns, and other documents to determine the accuracy of their reported income figures. If the IRS is auditing your taxes, you don’t have to go through this process alone. Our team can provide you with expert guidance and support throughout your audit so you get the results you need and deserve.

Types of Audit Letters You Should Expect to Receive

You’ll most likely receive 2 types of correspondence audits from the IRS through the mail:

  • The simple letter: The IRS’ correspondence audit, or a simple letter, is an easy request for information and documentation. The vast majority of taxpayers do not have to face this type of examination.
  • The complex letter: A complex letter from the IRS is a more in-depth process that may involve an office visit by a team of auditors. Responding to this type of letter as quickly and accurately as possible is important.

If you receive a complex audit letter from the IRS, our team can help you prepare for your meeting and ensure that your tax records are presented in the best light possible. With our support and guidance, you can successfully navigate this important process and confidently finalize your audit.

Types of Audits

There are 2 types of audits that the IRS might want to perform.

  • Office Audit: An office audit involves a team of IRS tax auditors visiting your place of business or residence and examining your records in person. This type of audit is more common among businesses. Still, it can also occur with taxpayers with complex returns or large amounts of income.
  • Field Audit: A field audit is typically done for self-employed individuals or with a more complex tax return. A team of auditors will visit your home or business to examine your records in person and may ask you to provide further documentation and information. The best way to prepare for an IRS audit is to keep accurate, up-to-date records of your income, deductions, and other financial information.

Our tax experts can help you ensure that your records are in order so you don’t have to worry about an unexpected audit or any potential misunderstandings.

Can You Avoid Audits?

There’s no way to guarantee you won’t be audited, as some audits are random. But there are some big red flags you can avoid to help reduce your chances of being audited.

Avoid overestimating donated amounts. Make sure your return has been double- and triple-checked for simple math errors. Sign your return; don’t under-report income; don’t overstate home office deductions. And don’t narrowly wiggle out of an income threshold by a small amount through inflating numbers.

Be Ready for your Next Audit with Nesso Group in Milldale, CT

Looking for the support with your income taxes in Milldale, CT? Look no further than Nesso Tax. Our experienced professionals are here to help you with your finances and ensure you stay on top of your tax obligations yearly. We’ll work with you to ensure that all your documentation is in order and that you’re prepared for anything the auditors might throw your way. Don’t go into your next audit blind – let us help you. Contact us today to learn more about our tax services and get started with your taxes.

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