As the Internal Revenue Authority tries its best to go after what crypto enthusiasts owe it, people are panicking after receiving letters from the taxman. In the past several months, the IRS has been sending letters to tax payers who doubled up as crypto enthusiasts in its bid to urge them to pay their taxes. Some of the letters come as a reminder to taxpayers to remit their taxes. However, some were warning messages which require a response. Others also come with penalties and dues the crypto traders own the IRS.
With the letters in their hands, crypto enthusiasts were thrown into a panick mode wondering what to do next. However, H&R Block, an accounting firm, has come to the aid of crypto traders with their newly launched services.
While some of the notices are IRS way of reaching out to you, the taxpayer to pay your taxes, for the taxpayer, getting a letter from the IRS is a shocking and stressing moment. However, for H&R Block, we are here to help. We possess the expertise to revolve a lot of tax problems, whether itâ€™s a simple issue or a more complex one. Besides we do understand how nerve-racking it is to be on the IRS radar, but we are here to help.
Andy Phillips, Director of H&R Block.
How the New Services Work
The process starts with the taxpayer reaching out to H&R Block either through a phone number or through an email address. They will then schedule for a meeting. The meeting will help H&R Block understand your issue and assign you the taxpayer a tax professional. The expert will review your letter and reach out to the IRS on how to solve the matter.
The above process is a free diagnostic which begins the whole process. Once the IRS responds with solutions to the tax issue, the expert will share the findings with the client and proceed to chat the way forward. After reaching an agreement, the clients are charged an upfront flat-rate fee to begin clearing the tax issues with the IRS.
H&R Block will solve any issue whether itâ€™s rectifying the records from IRS, reducing the penalties you own the tax agency or responding to the letter sent to you.