How the Program Works
- Your authorization will allow Lott Professional Services to file a form with the Internal Revenue Service to receive copies of notices. After the Internal Revenue Service processes the tax authorization, average 30 days to process, we will begin to monitor your account. This is not a tax representation engagement, but a monitoring program.
- We monitor your Internal Revenue Service transcripts for filing compliance, additional assessments, notices mailed, and resolution status/issues. Our monitoring service will provide you with informed delivery of mail coming from the Internal Revenue Service in real time.
- We will provide you, on a monthly basis, a detailed, easy to understand, Internal Revenue Service transcript report, providing you with peace of mind. If there is an alert, prior to your monthly report, we will contact you immediately.
- As a client of the Tax Monitoring Service, if IRS issues arise, you will receive a free consultation to discuss recommendations.
Quick Actions Save Time and Money
Some of the most common alerts we receive are taxpayers under audit, defaulting on installment agreements, underreporting income, and lien and levy filings. There is a short timeframe to respond to these types of notices to prevent your case from turning into a large engagement. By utilizing this tax monitoring program, we can quickly identify issues and notify you of pending IRS actions. By being proactive, we can mitigate long term problems with the IRS.
Have You Ever Paid IRS Penalties?
Have you ever forgot to include a Form 1099 or W2 on your tax return? If you have, you know there is usually penalties and interest associated with these type of errors.
Our Tax Monitoring Service will identify these type of “red flags” and we will notify you of the discrepancy, giving you the opportunity to file an amended return prior to the penalty being assessed. Possibly saving you thousands of dollars in penalties.