Tax Talk

Question: The IRS is hounding me, sending me notices, and won’t leave me alone, so I’ve finally decided to seek help from a Tax Professional who specializes in IRS problem resolution. I want to start getting my paperwork together for the initial appointment; what will I need to bring with me?

Answer: It’s very important to have certain documentation with you for the initial interview. Your tax resolution specialist will need this info to preserve your rights, protect your income and assets, and determine the best way forward to resolve your case.

Some items to have in front of you include:

• The most recent IRS/State tax notices and collection notices.

• The latest filed income (1040) tax return if you have one.

• A monthly household cash flow budget (list all outflows and inflows of money)

• Your most recent paystubs with YTD info verifying income from all sources and all withholdings and payroll deductions.

• If you are self-employed, an independent contractor, or a small business owner, prepare a “rough draft” of your current profit and loss. If this is not possible, just bring your Schedule C from your most recently filed 1040.

• A list of any quarterly estimated tax payments made, if any, for the current year

The information above will help determine which IRS debt settlement program you are eligible for, including settling with the IRS for a fraction of what you owe if you qualify.

Mark Diehl is the founder and president of Diehl CPA LLC and a Certified Public Accountant licensed in Alaska. He has a Bachelor of Science and a Master of Science degree in Accounting from Western Governors University. Mark has previously worked with the Minnesota Department of Revenue as a tax auditor, so he knows the audit process very well. Diehl CPA is Alaska's expert in Tax Negotiation and Mediation.