Subscribe To Our FREE Weekly Tax Advice Podcast!

Tax Monitoring

Have you ever worried about what the IRS has on file about you?  With Tax Monitoring we will have full access to your IRS database.  We will be able to pull your transcripts (tax returns) for the last 10 years and continue to get future returns as we file them.  


By having access to these transcripts we can make sure of many things:  


1. Id theft


2. Any outstanding issues


3. First time abatement penalties


4. Missing refunds


5. Letters from the IRS.


6. Red flags on your account for any irregularity on your returns.


7. Audit flags


8. Most importantly we get advance notice of any issues.


The IRS is a very complex organization and it has many moving parts.  When your tax return is filed, it is run through their software and it compares all the information to information from 3rd parties (employers, mortgage companies, 1099 ect) all the forms you receive from people at tax time are also filed with the IRS by those people that provide them to you.  


The IRS matches the numbers on your tax return to the numbers provided to make sure they match.  If they don’t match then the account is flagged for personal review.  Since the IRS is way behind on manual review these items can take 6 months or more before they are reviewed.  However your transcripts will flag once they have been marked and we will be made aware of a possible issue.  This allows us time to contact you, figure out if there was a mistake and amend any returns that have possible issues.  


By doing this before you get the letters, this will avoid you having an audit and possibly owing lots of money in under payment fees plus interest.  Interest accumulation begins back on the date you should have paid the money, so there could be months if not years of interest accumulation before the IRS actually looks into your case.  


With Tax Monitoring we can eliminate these issues, we have found/saved thousands of dollars for clients by First Time Abatement penalties and early notifications of issues.  I feel every tax payer owes it to themselves to have this protection, so it offer it at a very low annual fee.  Please contact us today if you have any questions or want to know more about this service