681. How to Deal with the IRS with Ben Golden

Today we are joined by resident expert Ben Golden of Golden Tax Relief to help us navigate through the three most feared letters in the alphabet with ease–the IRS. Ben has years of experience working with service businesses and understands exactly what these businesses go through when it comes to dealing with the IRS. He talks about why it's important for service businesses to file their taxes as soon as possible, what consequences you might face if you don't do so, and what steps you can take to increase your chances of a successful outcome should you receive an audit letter from the IRS. This episode is perfect for service business owners or technicians who are thinking about starting their own business- it'll give you everything you need to know in order to protect yourself and maximize your chances of a positive outcome!

[00:01 - 06:14] Opening Segment

• Introducing Ben to the show
• Past experiences and expertise
• The Three different people you can hire to represent you before the IRS
• A CPA-certified public accountant
• An enrolled agent
• An attorney

[07:18 - 16:42] How to Deal with the IRS

• Whenever you get a letter from the IRS, it's important to know the problem and figure out a plan of action to fix it
• The benefit of filing an extension is that it allows taxpayers more time to pay their taxes
• If you are the owner of a business, you may be responsible for paying payroll taxes that are due

[16:43 - 21:42] How to Avoid an IRS Audit

• The IRS can audit you for any year, even if you've already paid taxes on that year
• If you under report your income, you'll get an audit for that year and possibly additional years
• If you don't file your taxes, you'll get a letter of audit
• The red flag program or the DIF program in the IRS

[21:43 - 25:28] Closing Segment

• Final words
• See the links below to connect with Ben

Quotes:

"When you go to a job site, you have to know the scope of the work you're trying to do. The same way with the IRS when you get that letter, you have to figure out the scope of work to mitigate that problem." - Ben Golden

"You can't know anything. You need an attorney, an insurance person, an accountant…you need all these people in your team that are going to be moving towards the same goal for you to make a profit." - Ben Golden

"I don't ever suggest talking with the IRS by yourself because you never know what they're trying to get from you." - Ben Golden

Connect with Ben by visiting www.GoldenTaxRelief.com.