When filing taxes for your business, it is important to work with an experienced Tennessee Business Tax Lawyer who will ensure accuracy in your filing. Even accidental miscalculations can result in significant fines and penalties. All it takes is one accounting error or one misapplied deduction to cause serious problems for your business.
Some people may assume that if they don’t hear from the IRS immediately after filing, they will not face an audit. This is not the case. The IRS actually has three years from the filing due date to audit tax returns. If there is evidence of “substantial understatement of income,” the IRS can audit up to six years after the due date. There is nothing worse for a business owner than realizing a few years after filing that there were actually errors in their return. A Tennessee Business Tax Lawyer with an accounting background can make sure that the taxes are filed accurately, all deductions are properly applied, and that the law is being followed. This way, once the taxes are filed, a business owner can be confident that they will not face penalties or back taxes somewhere down the road.
Our clients are business owners, professionals and individuals in Blount County, Knox County and throughout eastern Tennessee. Burkhalter & Burkhalter also advises clients nationwide on tax law matters. We value a long-term, ongoing relationship with our clients, helping them meet new challenges as their businesses grow and personal circumstances change.