Save Yourself Some Trouble and Avoid These IRS Tax Myths

Unfortunately there is a lot of misleading information that would lead people to fall victim to any of the following IRS tax myths. The last thing anyone wants to receive in the mail is a letter from the IRS threatening to take action. If you by chance miscalculated the amount on your income tax return, filed late or just neglected to file at all, just know that the IRS will find a way to get their money. Some individuals believe that they can trick the system and avoid any IRS audits but the obvious truth is that they can’t. Don’t fall vulnerable to the several common tax myths that could hinder your situation even more.

Myth #1: I don’t have any money to pay my taxes so I don’t have to file.

Wrong. Everyone has hardships especially in today’s economy but just because you are struggling financially it does not mean you are exempt from filing your tax return. The IRS understands that individuals can have unforeseen events happen to them that hinder them financially; it is better to work with them rather than fall into tax evasion problems.

Myth #2: If I file for a tax extension, it can prevent the IRS from coming after me.

The sole purpose of a tax extension is to provide you with more time to file your return. If the IRS knows that you owe them money, they will still pursue you until the amount is paid off.

Myth #3: If you choose the right time to file you can actually avoid an audit.

Please do not listen to anyone who gives you this piece of invalid information, there is no “right” time to file your tax return that would keep you from being audited. When the IRS chooses to audit someone, it is because certain items on their return raised flags and questions that require further documentation.

Myth #4: You have to pay the full amount of your IRS tax debt.

The IRS provides different IRS tax solutions for those who owe back taxes. By acquiring the assistance of a tax lawyer, you can avoid trouble with the IRS as they can deal with the government agency on your behalf and find the best solution for your specific case.

Avoid paying penalties and interests by filing and paying your taxes by their corresponding due date. If you do fall in the trap of any of the above IRS tax myths, call an experienced tax lawyer in Miami to help out with your case. Avoiding your problems won’t make them go away, take control of the situation before it gets out of hand.