Here are some tips on what to do after tax resolution and how to maintain it:
- Stay organized: Keep all of your tax documents, including returns and payment receipts, in a safe and organized place. This will make it easier to access the information you need in case of an audit or future tax filing.
- Budget accordingly: If you have entered into a payment plan with the IRS, make sure to budget for your monthly payments. This will help you avoid missing payments and defaulting on your agreement.
- Maintain good records: If you are self-employed or own a business, it is important to maintain accurate financial records. This includes keeping track of income, expenses, and receipts.
- Seek professional advice: Consider working with Matthew Jennings, JD, MBA, EA, RFC®, CEP®, CES™, aka Tax King Matt to help you stay on top of your tax obligations and avoid future issues.
- File your taxes on time: Make sure to file your tax returns on time each year, even if you do not owe any taxes. Filing late can result in penalties and interest charges.
- Keep communication lines open: If you encounter any issues or have concerns about your tax situation, it is important to communicate with the IRS or your tax professional. Staying proactive can help you avoid potential problems down the line.
Remember, resolving your tax issues is just the first step. Maintaining compliance and staying on top of your tax obligations is key to avoiding future problems.