IRS, Cassandra, Brent discussed on The Mom Show

Automatic TRANSCRIPT

Com. Just use the keyword mom show Cassandra. So glad you're here because we get to discuss some of these things why people are at the beginning of their tax journey. So if you have any questions that you like, okay before I get all of the paperwork out, and I get a little Manolas folder out. Start looking at all these pieces of paper you can call today. Or are you grab a glass of wine? That is you. Just flash forward. My basement office. That's exactly what I did. So if you have any questions, we all need some help, but it's tax time five one six four hundred what does seven one that is the number for the mob show, if you have any questions, and that I made sure it was a wise pitcher though, because I don't want to be. Exactly exactly the refund. I wanted to be. But I wanted to also eventually get audited. That can I ask that question. I feel like that's one of those things that we use the word audit or we hear audit, and we get panicked. But what's the likelihood of me getting audited? What are those things really like how often does that happen breath? The the likelihood of that is probably very well. Okay. Maybe a little more. So the if you are a small business owner, and you know, your expenses are are some large numbers that you know, that could bring it up, but but most of the time where people are receiving IRS notices or letters. It's more of a correspondence where the IRS received like a ten ninety nine and it wasn't reported return. It's not a full blown audit. Now. Let's also remind people because I think that there are so many things that are going to overlap during this conversation Cassandra and brat because there's lots of things like you just said. What an example of the kind of correspondence that you will get from the IRS. And I know that we've talked on previous shows Cassandra about all of the tax scams. Kind of interaction that you can get so Brent as you said, you would get an official letter from the IRS they're not gonna call you and like a robo-call or any of that stuff and say come down to the courthouse right now. Give us money. Exactly. Yeah. You'll never see a phone call or an Email from the IRS. Okay. Unless you've already had a previous correspondence with them in regards. Okay. So if anybody calls you and says come down and give us a visa gift card or you after wires this money getting scam. Hang up, hang up and don't worry about it. I just want to touch on that real quick before we get into the changes because they were talking about last year. One of the biggest scams was that someone would have somehow filed your tax return. You're actual with your social security number your name gotten you a refund. Right. And then you would say why didn't even file yet. And they would say, oh that was a mistake. Someone would reach out to you. Then in say, send us the money back. Right. You'd think. Okay. Yeah. 'cause I didn't I didn't file yet. But that was the scam. That's how they got the money because the money got sent to you than they would say, oh, we need it back. It was a mistake. Right. So that's not going to happen. I mean, you you're not gonna get sent to check. No that absolutely. Danieli said you twelve thousand dollars. And so don't think that you have to wire anything that's not how any of those things work, even if you do actually oh taxes. There's a process there's a way that it all gets printed out. So, you know, those extra things like when you as a CPA do my taxes. Brent what do I need to bring you what I mean? What's the basics that I've made to make sure I didn't accidentally throw away. Different from how you would have gotten ready to do your taxes last year when you're putting all the papers together. Sure. Nothing's really changed in regards to you know, what you need to assemble together. You know, they talk about this as this. Huge tax lodge change in impact. But there's really no change to what you need to gather. You're still gathering any documents that you receive. Ten ninety nine.

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