Congress Cuts IRS Budget; Taxpayers Pay The Price

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3 years ago

Five Stone Tax Advisers' Take on an Important Tax-Related Article:

In the upcoming filing season, the IRS will be managing more compliance items such as the ACA (affordable care act) and FATCA (foreign account tax compliance act) with a reduced budget and staffing. Taxpayers will end up feeling the effects of this perfect storm. There will be a drastic reduction in customer service along with a very slow response time by the IRS to inquiries. Taxpayers should expect potential processing errors to occur in regards to tax returns and paperwork. The importance of retaining a federally authorized tax practitioner that understands how to deal with the IRS in such circumstances cannot be overstated.

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About Five Stone Tax Advisers

Five Stone Tax Advisers has years of experience negotiating directly with the IRS to get the best possible outcome for you. Our Tax Preparation and Planning unit has a team of tax attorneys, certified public accountants and enrolled agents that form a single sourced point of contact to ensure you stay compliant and pay less taxes.