Taxing Your Patience – The Dreaded “A” Word

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It’s pretty obvious the US economy is somewhat overtaxed. What’s the easiest way to raise money?

Audits!

Your odds of being audited , in general, have increased. While IRS has relatively sophisticated computers and software to help identify the most lucrative audit subjects, they still like to audit a few souls, randomly, just to keep it from looking as if they are profiling taxpayers.

Win free tax Software at TaxMama.comtax preparation software this year is going to do a great job walking you through all the tax reduction opportunities. H&R Block’s At Home  will ask you industry-specific questions based on the research done by the Tax Institute.  It will also do a fine job of alerting you to audit risks.

H&R Block’s At Home

But you may get audited anyway.

And where will Block be when that happens?

Right by your side!

Yup. You will have the benefit of an Enrolled Agent, employed by H&R Block to help you respond to the audit notices for the correspondence audits. Their experts told me that  if you actually have to show up to an IRS office, Block will go right with you – or even instead of you if you prefer.

What do the other guys offer you?

One company charges you $19.95 per year, or $29.95 for three years – to hire their outside consulting firm to help you out with correspondence, phone calls and to review your tax return. They will send a representative with you to the meeting, if needed.

Another major company charges you a flat $39.95 to have their outside consultants help you with your audit. They, too will send the third party to the audit on your behalf.

Are you actually going to pay those fees, knowing that the odds of being audited are about 1-3 in 100?

Heck no! When was the last time you  paid that extra fee to your tax software company?

So generally, if you’re not using H&R Block’s At Home software, you’re out in the cold, my friend.

Will you own tax professional give you this coverage for free?

I certainly won’t. I would charge you at least $2,500 – probably more like $3,500 if there is a business involved.

Right now, you can get the best audit protection in the industry AND Office Depot is offering a $5.00 instant rebate on all H&R Block Software!

3 thoughts on “Taxing Your Patience – The Dreaded “A” Word

  1. Pingback: Eric Harmone

  2. A A "Toni" McIntyre, CPA, E. A. says:

    I do not charge to represent clients whose returns I prepared. I charge $100 per hour to represent others.

  3. Pingback: TaxMama

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