Looking for a Tax Accountant in a LITC
January 25th, 2008 by admin
You may qualify to use a Low Income Tax Clinic (LITC) to help you settle disputes with the IRS. These clinics are located throughout the country and most services are free to use, while others require a nominal fee. This is a lot better than going to see a tax accountant to help you with your disputes about your federal tax returns. The accountant will charge you an hourly fee or a flat fee and may require other things from you. The other benefit of using the LITC is the education about the tax process it can provide. The trouble with most taxpayers who get on the wrong side of the IRS is that they don’t understand the tax code. Of course, unless you have a knack for reading legalese, or have several investments that require tax savvy, why would you want to understand such technical jargon. Having said that, you may want to have a basic understanding of the tax matters that affect your general return. You should at least know when to file, how to get the forms, where to file, what basic tax deductions you can claim, and if you have a home, how does your mortgage affect your tax return.
Posted in Business
