Pros and Cons of Hiring Tax Professionals When it comes to Filing Delinquent Tax Returns
If you have delinquent tax returns, you may be wondering whether you should hire a tax professional to help you file them. While there are pros and cons to hiring a tax professional, it’s important to consider the potential costs, the level of expertise needed, and the benefits of having a knowledgeable advocate on your side. In this post, we’ll explore these factors in more detail.
Pros of Using a Tax Professional
- Expertise: Tax professionals have the knowledge and experience necessary to navigate the complicated tax code and ensure that your tax returns are accurate and complete. They can also help you identify deductions and credits that you may have overlooked.
- Time-Saving: Filing delinquent tax returns can be a time-consuming and complex process. Hiring a tax professional can help you save time and avoid the stress of dealing with the IRS on your own.
- Reduced Risk of Errors: Tax professionals can help you avoid errors and omissions that could trigger an IRS audit or result in penalties and interest charges.
- Advocacy: A tax professional can serve as your advocate, representing you in negotiations with the IRS and helping you understand your rights and responsibilities.
Cons of Using a Tax Professional
- Cost: Hiring a tax professional can be expensive, especially if you have multiple years of delinquent tax returns to file. However, the cost may be worth it if you consider the potential savings in penalties and interest charges.
- Limited Availability: Tax professionals may be in high demand during tax season, which could limit their availability to help you with delinquent tax returns.
- Limited Liability: While tax professionals can provide valuable advice and guidance, they may not be able to shield you from all potential liability in the event of an IRS audit or investigation.
In conclusion, hiring a tax professional to help you file delinquent tax returns can be a wise decision, but it’s important to weigh the pros and cons before making a final decision. If you do decide to hire a tax professional, consider contacting A Tax Defense and Accounting Services at 1-888-455-3111 or visiting their website at www.ataxdefense.com. They offer tax defense and accounting services to individuals and businesses and can help you navigate the complicated world of delinquent tax returns.