Issue link: https://read.dmtmag.com/i/132118
Owner Operator Solutions risk piling on more trouble? Carefully Consider the IRS' Decision You have the right to review the IRS' decision before agreeing or disagreeing with it. If you are uncomfortable with the decision, the Colorado Bar Association suggests not signing anything. Don't verbally agree or disagree, either. Appeal If you disagree, the next step is an administrative appeal. You'd meet with the examiner and his or her manager. The manager may reverse the original decision if he or she believes it was in error. If that doesn't work out, you'll need to file a protest, which is a more formal appeal. Note that the situation could linger for months or years if you go this route and, if you lose, you could end up paying even more than the IRS originally requested. Consider Hiring a Professional Consider hiring a tax professional for advice during an audit. He or she will be able to help guide you through the process and make it a less stressful process. And, your tax professional may also represent you if he or she is a CPA or enrolled agent. Additionally, while this information may be useful in handling an audit, you should consider a tax pro for specific advice. One of the benefits of having your taxes prepared by a professional in the beginning is the fact that if you are audited you will have your tax preparer available to answer questions and know the specifics of your tax situation. For more serious issues, such as a criminal investigation, hire a tax attorney. He or she will be able to both represent you in front of the IRS and, in an unfortunate situation, in court. OO EQUINOX Owner-Operator Solutions is a privately held technology and business services company headquartered in Salt Lake City, UT. EQUINOX offers technology-driven business services designed to lower the cost and increase the profitability of contractors in the transportation industry. To learn how EQUINOX can help, go to http:// www.equinoxlife.com / Owner operator/ June 2013 / / 54 OO 0613 edit.indd 54 5/9/13 4:55 PM