Audit Protection: Why You Need It
Tax audits are a hassle! That is why we recommend that everyone should get audit protection. Whether you’re an employee or a small business owner, you need expert help when the time comes. Audit situations do not always arise and not everyone gets audited. Yet, audit protection is a worthy investment, like insurance. Look at it as something you hope you don’t need, but have, in case. If you want to know what audit protection can do for you, keep reading.
What Is Audit Protection?
This is a promise to defend you when the authorities want to audit your taxes. Your tax preparer provides this service. They will help you respond to the audit notice and defend you during audit hearings. If there are penalties that arise due to an error they made on your tax returns, they will pay for it. Audit protection is different from audit representation. This is because you pay for it before you file your tax return. Representation involves hiring an expert to help you, after getting a notice of an audit. This is stressful and costs more in the long run, so it’s best to avoid IRS tax problems.
Should I Get Audit Protection?
This is similar to getting insurance, but for taxes. For instance, you insure your vehicle, in case you need it someday. That is how audit protection works. Your chances of facing a tax audit are low, but it gives you a sense of comfort if it happens. Here are some reasons you need this service:
#1. It Saves You Time & Money
When you get an audit notice, there is a long process that follows. The paperwork and back and forth communication involved takes a lot of time. Even for the simplest notice, it can take hours and sometimes months to conclude. Dealing with your tax situation on your own can make you miss important activities. This will make you lose money in the long run. So, if you have protection, you can save yourself the trouble.
#2. Eliminates Stress & Offers Expert Help
We can agree that getting an audit notice can cause your heart to beat fast. This can stress you out and distract you from daily activities. That is why you need experts on standby, to handle your tax situation. It is a preventive measure that will save you from stress. They will break down the process, so you can understand it. This will help with compliance and cooperation with the procedure.
#3. Offers Peace of Mind
There is nothing as valuable as peace of mind and audit protection offers you this sense of security. It leaves you confident, knowing there is help available if you get into a tight spot. This protection lasts for a while, as long as the authorities can audit your return. So, you can relax and let experts handle the dirty work.
This type of protection saves you from paying extra to get representation. It offers you tax experts to deal with your audit process. Give Tax Prep Buddies a call to know your options and what it will cost, virtual tax preparers are standing by.