The two most important preemptive actions you can take are entirely within your control: keep detailed tax records and supporting documents, and respond to any received IRS tax notice promptly and completely.
Although none of us want to consider it, what happens if there is a mistake? Maybe you received additional tax documents after you already filed the return, or perhaps your math was off and you provided your accountant with incorrect information.
Earlier this year, the Tax Cuts and Jobs Act (TCJA) was signed into law and quickly began taking effect. As many of you may know, the new tax law brings significant changes to the future tax landscape, many of which differ for each of us. Learn more in our blog today!