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I have a small business and owe back 941 taxes, I worked with

a CPA and got everything...
I have a small business and owe back 941 taxes, I worked with a CPA and got everything filed. currently I owe alittle over 100,000 about 80,000 trust fund the rest in penalties and interest. I am working with a revenue officer and am currently compliant as well as making voluntary payments toward the back taxes. The officer is now asking for all bank statements going back to 09 and cancealed checks, I am not trying to hide anything and want to be compliant but should I consider legal help? The agents job is to get back everything he can and I don't know all my rights. I could use a little advice. Thank you.
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Answered in 32 minutes by:
8/2/2012
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16,581
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

Thank you for your question - in a situation like this it is normal for the IRS to ask for your financial records, and since you owe $100,000 they are trying to determine how much you can pay. They will figure this by reviewing your bank statements, THey aren't going to take your word for it.

If you're already using a CPA for this issue, I would simply tell them about the request and have them field all the questions from the revenue officer. The CPA will know what has to be divulged vs what doesn't, and isn't emotionally involved in the process. They can also help you provide the information in a way that is user friendly, and will assist the IRS revenue officer with their inquiry.

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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
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Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Megan C and 87 other Tax Specialists are ready to help you
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Megan C
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
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