What Do You Know About the Taxpayer Bill of Rights?

Whether you love tax season or dread it, there’s something we all should know when dealing with tax and accounting services in Chapel Hill, NC. Just like you have rights in other areas of life, you also have rights when it comes to dealing with the IRS.

So, what exactly are these rights? It’s called the Taxpayer Bill of Rights. It is the ten rights all taxpayers have any time they interact with the IRS. U.S. taxpayers have a basic right to:

• Be Informed

  You have the right to know what you need to do to comply with the tax laws. The IRS should provide clear explanations about the tax obligations and processes.

• Quality Service

  Expect prompt, courteous, and professional assistance from the IRS. It’s your right to receive top-notch service when dealing with them.

• Pay No More than the Correct Amount of Tax

  You should only pay the amount of tax legally due, including interest and penalties. The IRS must apply all your tax payments properly.

• Challenge the IRS’s Position and Be Heard

  If you disagree with the IRS, you have the right to raise objections and provide additional documentation to support your position.

• Appeal an IRS Decision in an Independent Forum

  You can request a fair and impartial administrative appeal for most IRS decisions, ensuring your case gets a second look.

  Moreover, the Taxpayer Bill of Rights further guarantees that U.S. taxpayers when availing of financial services in North Carolina can enjoy:

• The Right to Finality: It’s your right to know when the IRS has finished an audit. This gives you peace of mind, knowing the process is complete.
• The Right to Privacy: Any IRS inquiry, examination, or enforcement action should comply with the law and be as non-intrusive as possible.
• The Right to Confidentiality: The information you provide to the IRS will not be disclosed unless authorized by you or by law. Your privacy is a priority.
• The Right to Retain Representation: You can retain an authorized representative to represent you when working with the IRS. If you can’t afford one, you can seek assistance from a Low Income Taxpayer Clinic.
• The Right to a Fair and Just Tax System: The tax system should consider facts and circumstances that might affect your underlying liabilities, ability to pay, or ability to provide information timely.

Here at Pro Financial Fitness, we understand the ins and outs of these rights and how to use them effectively for financial management in North Carolina.

We specialize in bookkeeping and non-profit accounting. Think of us as your personal financial coaches, ensuring your non-profit stays in great financial shape and steers clear of trouble with the IRS and the government. Call us now.