RS Audit??? Here Is Your Answer with Morgan Anderson

[00:00:00] Entertainment Insights Don't take life too seriously.

[00:00:06] Welcome to Brainsky Unleashed.

[00:00:09] Hello ladies and gentlemen, welcome to Brainsky Unleashed.

[00:00:14] Today on our episode we have Morgan Q. Anderson, enrolled agent, CEO and founder of Golden

[00:00:21] Lion Tax Solutions, author of Tax Debt Rule Number One, There's Always a Solution.

[00:00:27] For the last over 24 years she's represented thousands of clients before the IRS and state

[00:00:32] tax agencies.

[00:00:34] She's identified the best solutions to unique problems.

[00:00:38] She's negotiated with the IRS, she's even dealt with the director of the IRS collection

[00:00:42] appeals division.

[00:00:44] This is someone who really knows her stuff.

[00:00:46] This episode is going to be all about that one thing that all of us business owners

[00:00:49] are so deathly afraid of, it's about an audit.

[00:00:53] And based on recent data it looks like more people are going to be seeing audits coming

[00:00:58] up than ever before.

[00:01:00] So you might want to tune into this one.

[00:01:02] And remember before we even get started, what is the most important thing you're

[00:01:05] doing right now aside from listening to me?

[00:01:08] Hit the subscribe button.

[00:01:10] I know you're listening.

[00:01:11] I see the analytics.

[00:01:13] Lots of views, not so many subscribers.

[00:01:16] Hit subscribe button.

[00:01:17] It keeps me going, takes care of people like Morgan.

[00:01:20] Let's get it done.

[00:01:21] Aim number one, hit subscribe.

[00:01:23] Okay, let's begin.

[00:01:24] Morgan, thank you so much.

[00:01:25] Welcome to the program.

[00:01:27] Thomas, thank you for having me.

[00:01:29] I am excited to talk about, as you said, that one topic that people dread, taxes.

[00:01:36] It's something that we all need to deal with and hopefully I can bring a little

[00:01:39] lightness and levity and positivity to this serious topic.

[00:01:43] I mean everyone loves taxes.

[00:01:46] Why wouldn't they love an audit at the same time?

[00:01:48] Right?

[00:01:49] You know, what's the worst thing you could ever hear?

[00:01:51] I'm from the government.

[00:01:52] I'm here to help.

[00:01:53] Yes, absolutely.

[00:01:54] Absolutely.

[00:01:55] Every time you hear it, you kind of cringe.

[00:01:58] That's why I cringe.

[00:02:00] People get those love notes as we call them in the mail and immediately their heart

[00:02:05] starts palpitating.

[00:02:06] Right?

[00:02:07] Like, oh my gosh, what do I do?

[00:02:08] They start sweating bullets.

[00:02:09] I'm here to tell you, slow down and breathe.

[00:02:13] You're gonna get through it.

[00:02:17] Okay.

[00:02:18] Exactly.

[00:02:19] Moment of zen.

[00:02:20] IRS letter comes in, it's a moment of zen.

[00:02:22] Who would have thought?

[00:02:23] Serenity now.

[00:02:26] So let's kind of go through this a little bit.

[00:02:29] It starts with a letter.

[00:02:31] Would they receive, it's a general letter?

[00:02:33] Is it gonna come via certified mail?

[00:02:36] How do you normally get notified that the IRS is now coming for you?

[00:02:41] Well it's not so much that they're coming for you.

[00:02:43] Keep that in mind.

[00:02:45] They're coming to you and saying, hey we saw something on your tax return that doesn't

[00:02:51] quite compute.

[00:02:53] We'd like to ask you to cooperate with us as we look into these areas of your tax

[00:02:58] return.

[00:02:59] Can I play devil's advocate?

[00:03:01] Can I just play devil's advocate for a moment there based on what you said?

[00:03:04] And I'm not trying to be argumentative because you know this a lot better than

[00:03:06] I do.

[00:03:08] Sure.

[00:03:10] When is a tax return ever perfect?

[00:03:13] How would the government even know it was perfect?

[00:03:17] Great questions.

[00:03:18] Great questions.

[00:03:19] So a lot of it, your general W-2 husband and wife or spouses that claim to dependence.

[00:03:28] Any type of situation where people are working for somebody else and they're just

[00:03:33] claiming W-2 unless there is a gross underreporting of income received you may just find a

[00:03:42] little bit of pushback on credits or deductions that you claim.

[00:03:47] Hey you claimed three children but we only have social security numbers for two.

[00:03:52] Can you help us with that?

[00:03:53] That's on a W-2.

[00:03:55] That's easy.

[00:03:55] That's on a W-2.

[00:03:57] Easy right.

[00:03:58] But that's where a lot of the mismatching happens on tax returns and what's

[00:04:04] reported to the IRS from third parties.

[00:04:08] So it's not so much the businesses as it is the individuals with W-2?

[00:04:14] Well this is a big part of examinations.

[00:04:18] Simple examinations that get flagged in the system.

[00:04:21] It's some type of mismatch for W-2 people right and that's why I say if you get

[00:04:27] a letter about an audit don't freak out.

[00:04:30] Don't go to the oh my gosh this guy is falling.

[00:04:32] I would do that.

[00:04:33] Because there's usually a simple answer to it.

[00:04:36] Now for small business owners, for people who are self-employed, you have a

[00:04:41] little bit more vulnerability with the way that you report your income and

[00:04:47] expenses and the way the IRS sees it.

[00:04:50] Like I had a woman who did recruiting and she claimed business expenses on

[00:04:58] her tax return as all self-employed people do on the Schedule C and the

[00:05:03] IRS has general expense allowance percentages for people in different

[00:05:10] industries for things like advertising, rental expense.

[00:05:16] You know there is a general percentage that is recognized and when you fall

[00:05:20] outside of those percentages it flags the system.

[00:05:24] Somebody looks at it and says okay let's look into this further and

[00:05:27] that's when as a business owner you get a notice asking for more

[00:05:31] information about an expense that you claimed.

[00:05:34] So if I'm a business owner and I'm listening to you right now the first

[00:05:38] thing I'm thinking is what are those percentages?

[00:05:41] What can I do to try and ensure that I am not going to get flagged?

[00:05:47] You know what it's not so much about the percentages it's just about

[00:05:51] making sure that your records are spot on.

[00:05:53] How do we do that?

[00:05:54] And that you're not trying to claim things that are outside of

[00:05:59] general business practice.

[00:06:00] Such ends.

[00:06:02] I had a client who was paying their children an allowance from the

[00:06:08] business to shred documents.

[00:06:11] It's like you're really paying your nine-year-old child that?

[00:06:15] Come on.

[00:06:16] You can't claim that as a business expense.

[00:06:18] You're giving them an allowance for something around the house.

[00:06:20] My understanding is that that is still legal though.

[00:06:25] But it exposes you to second guessing right.

[00:06:30] And any time you allow the IRS to raise an eyebrow about one expense

[00:06:38] they're going to second guess everything else you put on that tax

[00:06:41] return right.

[00:06:43] So be reasonable with your business expenses if you if you sit down

[00:06:49] with your accountant and your accountant says yes we can absolutely

[00:06:52] claim this we can absolutely claim that when this client got audited

[00:06:57] and that allowance to their children for shredding documents and they're

[00:07:02] under 10 come on.

[00:07:05] Their accountant had said we should not put this on the return and

[00:07:09] they really wanted it so OK fine it's against the accountants

[00:07:14] advisement and it got flagged and brought up as an issue and they

[00:07:18] lost.

[00:07:18] Wow.

[00:07:19] So even though there's the last time I checked seventy seven

[00:07:25] thousand pages of tax law tax guidance tax regulation no one knows

[00:07:30] what's actually in there.

[00:07:31] Hypothetically speaking neither does the IRS auditor.

[00:07:36] So who is best to make sure that should an audit come up you

[00:07:44] are best protected.

[00:07:46] One could certainly argue that an enrolled agent such as yourself

[00:07:49] would be the answer.

[00:07:51] That is actually the correct answer I'm giving everyone in the

[00:07:53] audience the correct answer to this question I'm asking.

[00:07:56] So the answer is you call Morgan or someone like Morgan who is an

[00:08:01] enrolled agent.

[00:08:02] So there's the correct answer right.

[00:08:05] What the wrong answer is and Morgan when pitch this to you is

[00:08:12] the wrong answer to go with the same person filed your taxes in

[00:08:15] the first place.

[00:08:19] That is a double edged isn't it though because in some instances

[00:08:23] you're dealing I know you are you're asking great questions.

[00:08:27] This is hopefully keeping everybody listening on the edge of

[00:08:29] their seat.

[00:08:31] So here's what I would say if you have an experienced CPA who has

[00:08:39] years of experience right.

[00:08:41] They've handled your situation they've guided you over the

[00:08:44] years talk to them about it OK because most people who compile

[00:08:50] the return for you that is that are licensed as a CPA they have

[00:08:55] the wherewithal to know how far you've pushed and was it within

[00:08:59] the normal boundaries.

[00:09:01] OK but if you go to H&R Block or Jackson here and I'm not

[00:09:08] speaking down about them there's certainly times when

[00:09:10] they're good to use.

[00:09:12] But if you have a very involved tax return you only get out

[00:09:17] of your tax preparation what you invest into it.

[00:09:22] If you are a business owner you should have your CPA on speed

[00:09:26] dial as you're making decisions you want them to weigh in on

[00:09:30] it right.

[00:09:31] So at the point if you're working with a CPA and you get

[00:09:35] an audit notice that's the first person you want to talk

[00:09:38] to.

[00:09:38] Hey here's what they're saying here's what they're

[00:09:41] questioning.

[00:09:42] Can we go back through the records from when we pulled

[00:09:45] this return together and tell me what you see.

[00:09:48] And if they say boy this is simple I'll look at the

[00:09:52] Internal Revenue Manual I'll look at what we claimed we

[00:09:54] have justification I'll send a letter and nine times out of

[00:09:58] 10 that communication in response to the notice you

[00:10:02] receive will quiet the whole situation.

[00:10:06] And don't take this the wrong way but you really

[00:10:08] undersold yourself.

[00:10:09] So let me let me let me spin this around help you out

[00:10:11] here.

[00:10:13] No the reason I say that is I turn away clients all the

[00:10:17] time.

[00:10:18] You don't need me.

[00:10:20] I and I'm just being up front I probably sound like a

[00:10:23] bad business owner but I have integrity to say if you

[00:10:27] worked with a licensed CPA throughout the year and you

[00:10:30] were in constant communication with them and they guided

[00:10:33] you they should be able to defend that position taken on

[00:10:37] your tax return.

[00:10:38] Let me play devil's advocate.

[00:10:40] If they are comfortable with it.

[00:10:41] Yeah of course reach out.

[00:10:42] Let me let me play devil's advocate here because I

[00:10:46] sort of view things a little bit differently and I

[00:10:48] want you to tell me if I'm wrong and if I'm wrong

[00:10:50] I can take it.

[00:10:51] I'm a big man.

[00:10:55] Pay attention everyone is important.

[00:10:56] This is going to be fun.

[00:10:57] This is very important.

[00:10:59] I view the CPA in this situation as the general

[00:11:03] practitioner.

[00:11:03] You go to the doctor because you got headaches

[00:11:06] right. And that and this doctor has been treating

[00:11:07] you for 25 years and this doctor knows you so well.

[00:11:10] And he's been helping to treat your migraines for

[00:11:12] the last 15 years.

[00:11:15] And that's as long as you've been a business

[00:11:17] right. And business gives you migraines.

[00:11:19] That's how that's how it works.

[00:11:20] That's how we sell drugs.

[00:11:21] Yeah anyway totally sad track.

[00:11:24] But you go to your general practitioner your CPA

[00:11:28] and all of a sudden you now have a bigger

[00:11:30] headache. We'll call it an audit.

[00:11:33] And even though this person's been taking

[00:11:37] care of you just like possibly having a bigger

[00:11:40] problem being like brain cancer it's one thing

[00:11:44] to contact the general practitioner or the

[00:11:47] CPA but it's another thing to go you know what

[00:11:49] I think I need a second opinion and I think

[00:11:51] that if people actually contact an enrolled

[00:11:54] agent and they get punted back that's at

[00:11:57] least getting that reassurance that you're

[00:12:00] going to be in good shape versus am I going

[00:12:04] to be in good shape. Can I sleep at night.

[00:12:06] Am I going to get this right without making

[00:12:08] that call for that second opinion because do

[00:12:11] you know if that is actually a deadly cancer

[00:12:14] or if that's just something that could be

[00:12:15] wiped out very easily and I think that's the

[00:12:18] way that I kind of view it and you can

[00:12:19] tell me if I'm wrong here or not.

[00:12:22] Great pushback.

[00:12:23] I get it.

[00:12:25] A lot of the audit notifications you're going

[00:12:28] to get though are simple simple questions.

[00:12:32] Simple why did you claim this much an

[00:12:35] expense. Why did you position it this way on

[00:12:37] the tax return. And that's why I say your

[00:12:39] CPA if you have a great relationship with

[00:12:42] your CPA and they've been tending to you

[00:12:43] for 25 years they will be able to say oh

[00:12:47] that's easy. Here's examples of how we've

[00:12:50] done it in the past. Here's the IRM that

[00:12:52] allows us to position it this way. This is

[00:12:54] why we did it. Right.

[00:12:56] Now I've had cases where the CPA says I

[00:13:01] can't handle this then come back to me.

[00:13:05] Absolutely come back.

[00:13:06] What is the ideal criteria for you then.

[00:13:09] What is it that people should look at

[00:13:11] immediately and go oh my gosh I've got

[00:13:13] to go with Morgan.

[00:13:15] Sure. So I've had a lot of clients who

[00:13:18] have used the same CPA for years and

[00:13:20] then they start noticing slip ups. OK.

[00:13:24] They start noticing that they're not

[00:13:26] handling things timely. They start

[00:13:27] noticing that everything feels kind of

[00:13:29] rushed. They start seeing different

[00:13:32] positions taken on the tax return.

[00:13:34] That's when you probably shouldn't go

[00:13:36] back to the CPA. That's when you

[00:13:38] should probably go to an EA if you

[00:13:39] get audited and say you know I just

[00:13:42] I'm not feeling as confident in my

[00:13:44] CPA skills to answer the questions being

[00:13:47] posed. What come to me. Absolutely.

[00:13:51] If your CPA is a lot of CPAs will say

[00:13:55] I don't do audit representation then

[00:13:58] come to me. Right. But you know that

[00:14:00] one of the first calls I'm going to

[00:14:02] make after you hire us is to the

[00:14:05] CPA to say OK I understand you

[00:14:08] don't want to handle this or you

[00:14:10] can't handle this or you don't feel

[00:14:11] confident in handling it. Let's

[00:14:13] collaborate because I want to see your

[00:14:15] work papers on how this was

[00:14:17] calculated. So something that makes

[00:14:20] my firm different is that we focus

[00:14:23] on collaborating to handle a tax debt

[00:14:27] issue with our client and their

[00:14:30] trusted CPA accountant bookkeeper

[00:14:33] whomever they already have on

[00:14:35] their bench. We're stepping in and

[00:14:37] saying OK we're going to be in

[00:14:38] charge of this play. So let's all

[00:14:41] work together because it's going to

[00:14:42] make it more efficient and more

[00:14:44] effective for every move that we

[00:14:46] make. Morgan can we talk about

[00:14:48] something that we brought up before

[00:14:52] the show and that was offers and

[00:14:54] compromise. Can you explain what that

[00:14:56] is and kind of give a little bit of

[00:14:57] insight on that for the listeners.

[00:15:00] Yeah you bet. OK so an offer

[00:15:02] and compromise is basically a legal

[00:15:06] form to settle your tax debt with

[00:15:08] the IRS or with the state. Not every

[00:15:11] state has the program but you're

[00:15:13] going to see a lot of commercials

[00:15:15] from big tax debt resolution mills.

[00:15:19] Everybody's an offer and compromise.

[00:15:20] We can save you tens of thousands

[00:15:23] even hundreds of thousands of dollars

[00:15:25] if you have a tax debt. Hire us

[00:15:27] and we'll get it done. The problem

[00:15:30] is that not everybody qualifies

[00:15:33] for this program. It is a

[00:15:35] unicorn but it's an attainable

[00:15:36] unicorn for the people who qualify.

[00:15:40] So I have a case right now we're

[00:15:42] in final negotiations. It's a couple

[00:15:44] that has a family and they're both

[00:15:46] self-employed. They've worked really

[00:15:48] hard but after paying all of their

[00:15:52] household expenses over the last 10

[00:15:56] years they've accrued a tax debt to

[00:15:58] the IRS of over three hundred and

[00:16:00] fifty thousand dollars. Now they don't

[00:16:03] own a home. They don't have

[00:16:05] investments. They don't have any

[00:16:07] financial security moving forward. They

[00:16:09] have a few older vehicles and once

[00:16:12] you look at their monthly income

[00:16:15] and their allowable expenses for

[00:16:17] their family of five they have

[00:16:19] minimal money left over. Right. So

[00:16:22] they hired us about a year ago

[00:16:24] and it takes this long to get

[00:16:26] through those programs. We are now

[00:16:29] settling the debt at seventeen

[00:16:31] thousand dollars. They owed over

[00:16:35] three hundred and fifty. So three

[00:16:36] fifty down to seventeen. Yes. Yeah

[00:16:41] but let me tell you I mean if you

[00:16:44] don't want to be put under the

[00:16:46] microscope by the IRS or the state

[00:16:48] financially this is not the

[00:16:50] program for you. You have to be

[00:16:54] right at your allowable housing

[00:16:57] and utilities your allowable

[00:17:01] allowances for food and clothing

[00:17:03] for the size of your family and

[00:17:05] the county that you live in. You

[00:17:07] can't be driving a hundred

[00:17:09] thousand dollar truck and qualify

[00:17:13] for an offer in compromise. So

[00:17:15] there's a reality to it. You

[00:17:16] know it's so funny I always see

[00:17:18] those ads on TV where it's this

[00:17:20] family and they're standing in

[00:17:22] front of a big two story

[00:17:23] beautiful home with a manicured

[00:17:25] lawn and they say oh I hired

[00:17:27] XYZ company to handle my tax

[00:17:30] debt. I owed three hundred

[00:17:31] thousand and they settled it at

[00:17:33] five thousand. Folks I'm here to

[00:17:35] tell you that's that's not the

[00:17:37] reality of the program. It

[00:17:39] exists. You can get it done if

[00:17:41] you qualify. If you think you

[00:17:45] have a tax debt and you can't

[00:17:46] afford to pay it reach out to

[00:17:48] me we can talk about it. We

[00:17:50] always give an assessment to

[00:17:52] people and we'll look into it

[00:17:54] but I don't want to see people

[00:17:56] wasting their money with

[00:17:57] chasing something that they

[00:17:58] won't qualify for just because

[00:18:00] some salesperson pressured you

[00:18:02] into it.

[00:18:04] As we are beginning to round

[00:18:07] out our time together today if

[00:18:09] you can possibly just put

[00:18:11] together sort of a visual

[00:18:15] verbally of course because a

[00:18:16] lot of people listen to this

[00:18:17] and never actually look at us

[00:18:19] but just to kind of explain

[00:18:21] what does the audit process

[00:18:23] look like feel like and smell

[00:18:25] like for the person who's being

[00:18:27] audited.

[00:18:30] Another great question. It

[00:18:32] varies and I hate to be so

[00:18:34] general but it depends on

[00:18:37] I know I know I'm sorry that's

[00:18:39] that's leaning more towards the

[00:18:41] different flavors of audit that

[00:18:43] I talk about in my book.

[00:18:44] That's the vanilla because most

[00:18:46] of the audits that are that

[00:18:48] are initiated are at the

[00:18:50] vanilla flavor level.

[00:18:52] Okay can you give me the

[00:18:54] vanilla with the chocolate and

[00:18:56] then the strawberry and maybe

[00:18:57] the cherry on top.

[00:18:59] Okay okay so vanilla is your

[00:19:02] simple correspondence audit.

[00:19:04] Hey we noticed an anomaly we

[00:19:05] have a question about this can

[00:19:07] you send us an answer to these

[00:19:09] questions right.

[00:19:11] That's the vanilla flavor.

[00:19:13] It's easy to handle it gets

[00:19:15] handled via correspondence and

[00:19:16] then you'll get a letter saying

[00:19:17] oh okay we see it either we

[00:19:19] agree or we disagree.

[00:19:21] If we disagree with you

[00:19:22] we're going to add more tax.

[00:19:24] You can appeal it.

[00:19:26] And then there's there's a

[00:19:27] couple of other levels.

[00:19:29] One of my favorites is the

[00:19:31] hot pizza that leaves a burn

[00:19:33] on the roof of your mouth.

[00:19:34] It's painful but it goes away

[00:19:37] after a little bit right.

[00:19:39] So that's more involved.

[00:19:40] That's when you're dealing

[00:19:41] with an exam specialist.

[00:19:43] There is usually a higher

[00:19:45] liability threat there usually

[00:19:48] between 20 to 50 thousand and

[00:19:50] additional tax proposed.

[00:19:52] That tends to be because of

[00:19:54] unreported income.

[00:19:56] We have all these data sources

[00:19:58] now that share all the

[00:20:00] financial activities every

[00:20:02] month and it's called the

[00:20:04] ERP system.

[00:20:05] I can't remember the acronym

[00:20:06] what it stands for right now

[00:20:08] but it's basically the

[00:20:09] financial reporting database

[00:20:11] that gets funneled to our

[00:20:12] government.

[00:20:14] Part of that is like bank

[00:20:15] accounts.

[00:20:16] Right.

[00:20:17] If you have deposits of over

[00:20:20] five figures right.

[00:20:21] If you have a fifteen

[00:20:22] thousand dollar deposit into

[00:20:24] your bank account more likely

[00:20:26] odds are that's going to get

[00:20:28] reported as an out of

[00:20:30] ordinary deposit into your

[00:20:32] personal bank account.

[00:20:33] Venmo.

[00:20:35] Zelle all of them are now

[00:20:37] required to start reporting

[00:20:38] at various levels of

[00:20:40] financial activities.

[00:20:41] So when you submit your

[00:20:43] tax return that usually

[00:20:45] takes the IRS system to

[00:20:48] sometimes three years to

[00:20:50] match what you report and

[00:20:52] what they've received

[00:20:54] information on.

[00:20:55] OK.

[00:20:56] And usually at the pizza

[00:20:58] burning the roof of your

[00:20:59] mouth level it's because of

[00:21:01] unreported income.

[00:21:02] And they're going to say hey

[00:21:04] we receive verification that

[00:21:06] you received income from

[00:21:08] these different sources we

[00:21:09] didn't see that you

[00:21:10] reported it on your tax

[00:21:11] return.

[00:21:12] We believe based on this

[00:21:14] you owe additional income

[00:21:15] tax of fifteen thousand

[00:21:18] dollars.

[00:21:19] Right. So you're going to

[00:21:19] have to deal with it

[00:21:20] you're going to have to

[00:21:21] walk through it but it'll

[00:21:22] eventually be resolved.

[00:21:24] What I call the ghost

[00:21:25] pepper the the hot chili

[00:21:28] pepper oh my gosh you

[00:21:29] can't eat anything for

[00:21:30] three days level of audit.

[00:21:36] Yes absolutely absolutely.

[00:21:39] This tends to be at the

[00:21:41] corporate level right.

[00:21:43] They're going to come in

[00:21:44] and say your books don't

[00:21:45] make sense to us based on

[00:21:47] the tax return you filed.

[00:21:49] We're going to go through

[00:21:50] everything we're going to

[00:21:51] assign two or three agents

[00:21:52] to come into your office.

[00:21:55] You need to give them your

[00:21:56] conference room and you

[00:21:57] need to give them boxes of

[00:21:59] paper.

[00:21:59] You need to assign somebody

[00:22:01] to answer for every piece

[00:22:02] of paper that they want to

[00:22:03] see.

[00:22:04] Those are nasty.

[00:22:06] The ghost pepper hemorrhoid

[00:22:08] audit involve small

[00:22:11] businesses mom and pops

[00:22:12] working out of their

[00:22:13] houses or generally that's

[00:22:14] not the case.

[00:22:16] Only if they get a whiff

[00:22:17] that there's fraud going

[00:22:18] on.

[00:22:20] And I've seen a few of

[00:22:21] those cases in my almost

[00:22:23] 25 years of doing this

[00:22:25] but not many.

[00:22:26] Those are usually for

[00:22:27] larger corporations and

[00:22:30] when I say larger I mean

[00:22:31] more than 50 or 100

[00:22:33] employees.

[00:22:35] A lot of moving parts

[00:22:38] but again the IRS system

[00:22:39] doesn't always catch

[00:22:41] this stuff.

[00:22:42] It's when they do and

[00:22:43] they reach out and say

[00:22:45] we've got a question.

[00:22:47] Don't ignore it.

[00:22:49] You usually have 60 days

[00:22:50] to respond to that first

[00:22:52] notice.

[00:22:53] Talk to your CPA if you

[00:22:55] don't have a CPA

[00:22:56] and you did your tax return

[00:22:58] yourself on TurboTax

[00:23:00] or free file.

[00:23:01] Reach out to me for

[00:23:03] sure.

[00:23:06] Should the taxpayer be

[00:23:08] communicating directly with

[00:23:10] the IRS or should they be

[00:23:11] going through a CPA

[00:23:13] or an EA.

[00:23:15] If it's a simple thing like

[00:23:17] we do claim three

[00:23:18] dependents and we only

[00:23:19] have two Social Security

[00:23:21] numbers the taxpayer can

[00:23:22] handle that themselves.

[00:23:24] Usually that's W2 people

[00:23:26] who are living paycheck

[00:23:28] to paycheck.

[00:23:29] It's a simple answer.

[00:23:30] You can handle that yourself.

[00:23:32] If they start digging into

[00:23:34] expenses you're claiming on

[00:23:35] your schedule A like high

[00:23:37] donations that you claim

[00:23:39] to your church or things

[00:23:41] you know they'll they'll

[00:23:43] look at it as

[00:23:45] we need to see some proof

[00:23:46] here.

[00:23:47] You'll want to get your

[00:23:48] your CPA or your

[00:23:49] accountant or us involved.

[00:23:51] So so vanilla you're

[00:23:53] cleared to just give them

[00:23:55] the document that they may

[00:23:56] be missing or some

[00:23:57] evidence.

[00:23:58] You go to the burning pizza

[00:24:00] then we're going to we're

[00:24:01] going to want to go with the

[00:24:02] CPA.

[00:24:03] You go with the chili

[00:24:05] that the ghost pepper

[00:24:06] hemorrhoid you're going to

[00:24:07] absolutely need the EA.

[00:24:09] Yes.

[00:24:10] OK.

[00:24:11] Absolutely informative.

[00:24:12] Is there you bet I just

[00:24:14] I and again

[00:24:16] I want to have integrity

[00:24:18] with everybody who reaches

[00:24:19] out to us and everybody

[00:24:20] who's listening.

[00:24:21] And that's why I say you

[00:24:22] don't always need to go

[00:24:24] to the big gun right.

[00:24:25] You don't always need to go

[00:24:26] to that expense do it

[00:24:28] when it's appropriate.

[00:24:29] And if you need a judgment

[00:24:31] call I'm always happy

[00:24:33] to talk to people and give

[00:24:34] them some guidance.

[00:24:35] And so for people to go

[00:24:37] to you they need to go

[00:24:39] to Golden Lion tax

[00:24:40] solutions right.

[00:24:42] Correct.

[00:24:43] And I'm reasonably sure

[00:24:44] that if you go to that

[00:24:45] website today you still

[00:24:47] will not see any reference

[00:24:49] towards ghost pepper

[00:24:50] hemorrhoids although

[00:24:52] I think that would be a

[00:24:53] really great thing

[00:24:54] for the website but that's

[00:24:55] just me suggesting that.

[00:25:00] Absolutely.

[00:25:00] But it is in my book.

[00:25:02] You can pick that up

[00:25:03] and my ghost pepper

[00:25:03] hammered the ghost

[00:25:05] pepper hemorrhoid info.

[00:25:07] I'm not going to give you

[00:25:08] a ghost pepper hemorrhoid.

[00:25:09] That's amazing.

[00:25:11] OK.

[00:25:12] Is there any other wisdom

[00:25:14] you want to impart on this

[00:25:15] audience that anything

[00:25:16] that they should be aware

[00:25:17] of any anything at all

[00:25:19] that you could think of.

[00:25:19] It's like hey you know what

[00:25:21] this is a really helpful

[00:25:22] nugget for my book

[00:25:24] or you should just simply

[00:25:25] go to Amazon

[00:25:26] and buy my book

[00:25:27] or watch me on Instagram

[00:25:29] as I cook and talk taxes

[00:25:31] at the same time.

[00:25:34] Boy I like that last

[00:25:35] suggestion.

[00:25:36] You know go on Amazon

[00:25:37] buy my book read through it

[00:25:39] I promise it's not going

[00:25:40] to put you to sleep.

[00:25:41] It's very easy to

[00:25:43] to digest.

[00:25:44] It has some humor in it.

[00:25:45] I always like to keep

[00:25:46] things like go to our

[00:25:47] website look through

[00:25:48] our blog database.

[00:25:50] I write a blog every week

[00:25:51] on every topic tied

[00:25:53] to tax debt.

[00:25:54] Feel free to reach out

[00:25:55] to me via LinkedIn

[00:25:57] Facebook through our

[00:25:58] website my direct phone

[00:25:59] numbers on our website.

[00:26:01] You know I'm happy to give

[00:26:03] guidance to everybody.

[00:26:04] What you don't want to do

[00:26:05] is give up control

[00:26:07] of the situation of any

[00:26:09] tax debt of it being

[00:26:10] handled by hiding

[00:26:13] from it.

[00:26:14] You want to be in control

[00:26:16] and be proactive so

[00:26:17] that you can drive

[00:26:19] the resolution instead of

[00:26:21] the IRS or the state

[00:26:23] telling you what you have

[00:26:24] to do.

[00:26:25] OK well thank you again

[00:26:26] for joining the program.

[00:26:27] I deeply appreciate it.

[00:26:29] And just to be clear everyone

[00:26:32] as Morgan said

[00:26:34] and just like my

[00:26:35] instructions on every

[00:26:36] program five stars

[00:26:38] five star review

[00:26:40] for brain scan leashed

[00:26:41] and when you go to Amazon

[00:26:42] five star review for

[00:26:44] the tax debt rule number

[00:26:45] one there's always a

[00:26:46] solution that is Morgan's

[00:26:47] book five stars no less

[00:26:49] is accepted.

[00:26:50] Once again hit the like

[00:26:51] hit subscribe and tune

[00:26:53] in.

[00:26:54] Thanks so much for

[00:26:54] listening.