Happy Sunday! Welcome back to SUNDAYS & BUSINESS. This week features Jacob Teitelbaum, CPA, CTRC Founder and CEO at Fiscal Guardian, with three easy-to-implement tips on How To Handle And Prevent Tax Issues.
Address tax notices promptly.
The government typically communicates tax matters through mail. Neglecting to open these notices may leave you unaware of potential issues and their severity. Opening and addressing mail promptly could prevent many tax issues. Ignoring tax problems won’t make them disappear
Explore tax resolution options.
If you find yourself in a challenging tax situation, it's crucial to explore available resolution options. Tax professionals can help you understand the issue and find a resolution that fits your financial situation.
Proactively ensure tax compliance.
Communicate with your accountant and stay informed about your tax filing obligations. Ensure prompt communication with your accountant when they request records or documentation, as tax compliance is ultimately the taxpayer's responsibility.
We hope you found this week’s episode insightful and helpful.
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Have a successful week ahead!
