IRS Tax Help



1. According to IRS tax help experts, making charitable contributions lowers taxes.

True
Donating to charity is an easy way to get income tax help. Individuals are eligible to take a deduction as long as the gift of money or property is made to a qualified organization. Professionals will be able to assist with the that will need to be filed for the deduction, the records that are required to be retained, and what organizations are qualified for deductions. This can be a good way to not only save money but to do a good deed for others.


2. IRS Tax help experts say it is wise to keep all financial records for about seven years.

True
Regulations place the burden of proof on the individual. It is important to keep copies of returns, RRSP contribution slips, medical receipts, source documents, and T-slips. With these documents it is possible to avoid paying for past taxes.


3. Income tax help experts advise that if individuals receive a notice from the IRS, it is important to respond promptly.

True
It is definitely important to respond promptly to an IRS notice. Consulting an IRS tax help professional is wise. In many cases, this assistance can take care of the IRS request through mail. Settling financial issues with various services should be completed in a very timely manner.


4. The IRS is error proof and the amount they state you owe is accurate.

False
It is best to seek an IRS tax help expert if audit notice from the IRS is received. Even these professional individuals can make errors or mistakes with financial records. Without having income tax help, individuals may send in money that is not truly owed. This can cause the individual serious financial problems if the money is taken from a retirement plan or other account to cover erroneous charges.


5. Scripture says we should pay our taxes (tributes).

True
Romans 13:6-7 - For this cause pay ye tribute also: for they are God's ministers, attending continually upon this very thing. Render therefore to all their dues: tribute to whom tribute is due; custom to whom custom; fear to whom fear; honour to whom honour.


Personal Money Management


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