Why small business owners and 1099 workers get in trouble with the IRS

  • Not having comprehensive well organized documents
  • Bad record keeping
  • Not segregating personal and business dealings
  • Failing to clearly show income from expenses in their records
  • Not meeting the requirements for deductions
  • Not keeping records for appropriate length of time
  • Ignoring IRS letters and notices
  • Not having the right preparer
  • Not hiring an accountant to assist them in tax planning

6 Things you should know if you receive an IRS letter or notice

  • Just because the IRS says you owe it, does not mean that you owe it
  • Do not ignore IRS letters and notices!!
  • Always keep a copy of the notice
  • Don’t panic
  • You usually have 30 days to respond
  • Get professional help

See if you qualify for government forgiveness or a Partial Payment Today, before the program expires