The IRS Tax Code

The IRS Tax Code

No one in their right mind likes to prepare and file their taxes. Yet, each and every year, they are due. If you don’t file and are required to do so, you can get into big trouble with the Internal Revenue Service (IRS). If you don’t want IRS problems St Charles IL, it may make sense to work with a professional tax preparer.

The IRS and Its Tax Code

The IRS‘s tax code is incredibly large. Very few non-tax-professionals, if any, know all the items in it. Yet is it the document that contains all the rules and regulations that you must adhere to when complying with and filing your federal tax levy. At present, the size of the federal tax code is over 74,000 pages!

Not only is the tax code large, but it also changes all the time. Congress, it appears, just cannot keep themselves away from changing the rules, and doing so often. Since 2001, there have been over 4,000 changes to the tax code. And, to add insult to injury, on average, U.S. taxpayers must work over 110 days each year just to pay their federal tax burden, not including state and other taxes.

The Problem with Doing Your Taxes Yourself

It can be tricky to accurately prepare your tax filing if you do it by yourself. There are many reasons that conspire to make the task difficult. Some people don’t have the time. Others are not good with numbers. But even if you are, mistakes are often made. The IRS estimates that over 15% of returns violate the tax code in some way. Inaccurate returns can lead to a tax audit, which is never a good thing. Additionally, do-it-yourselfers often miss out on key tax breaks because they simply do not know they exist.

Do yourself a favor. Give some serious consideration to working with a quality professional tax preparer. It can save you money.

 

 

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