Prestige Wealth Accounting Group Now Offering New Tips on How to Prepare for an Income Tax Audit Available On Their Website Receiving an audit notice from the IRS can be a nerve-wracking situation, especially if it is unexpected. It is hard to imagine that any letter from the IRS is anything but bad news. No matter how hard people prepare for the returns, something may go wrong, leading to an audit. In this stressful time, it is important to contact a reliable NJ accountant. Luckily for residents living in New Jersey, Prestige Wealth Accounting Group (PWAG) is pleased to announce the firm is now offering their clients informational tips on how to prepare for an income tax audit available on their website. Before becoming overwhelmed from receiving a tax audit letter by mail, people should have copies of all affected tax returns and copies of all relevant receipts and other important information in hand. They should also contact the professionals at Prestige Wealth Accounting Group for professional assistance. It is always important for people to read the notice carefully because some audits involve only parts of a single yearâ€™s tax return, while others include returns for multiple years. To prepare for a specified audit, it is vital to understand what the IRS is asking for. Since there will be plenty of time to prepare for next yearâ€™s tax audit, people can begin gathering their information together, and request information from others, such as credit card companies, banks and charities. All of this vital information will help the CPA when they prepare taxes. A reliable accountant will also come in handy to explain all of the various tax codes. They may be hard for a normal person to understand, but an accountant spends years of training and understanding each code. From there, people should have all of their information laid out as it says in the audit. A good NJ CPA will double-check the information and have it ready for response. With everything involved in preparing a tax audit, it is clear that the expertise of an accountant will be needed to be successful. About the Company: Prestige Wealth Accounting Group is a premier accounting firm that is committed to integrity, knowledge and offering first-class service to their clients. The company specializes in CPA services, and has experience providing high-net-worth individuals with concepts and strategies to help them reduce their taxes and simplify their financial life. The company is dedicated to taking an active role in assisting people with the constantly changing tax laws. Visit http://www.prestigewag.com to view the newly redesigned website and learn more about what services the NJ accountant provides.
Published on Jul 25, 2013