Lynn Spencer here. Today I want to share a tidbit of information many taxpayers do not understand when it comes to preparing and signing your federal and state tax return. YOU are the only responsible party to this very important transaction between the feds and the state.
If you owe extra money due to not declaring income (from whatever source), or taking too generous tax deductions, or failing to tell your preparer “all the facts”, you and only you will receive a notice thru the U.S. Postal Service (not any other way) of the deficiencies.
At Killingsworth Spencer, we make certain to have at least two sets of eyes on every tax return before it goes out to our client. Yes, we do make a mistake from time to time, and when you receive a notice of a deficiency, we are available YEAR-ROUND to set the record straight and make things right.
Next up – Discover how the IRS flags tax returns for further review
Have a great week
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11115 Houze Rd., Suite 100
Roswell, GA 30076