We help musicians with IRS income tax issues, such as IRS income tax indebtedness, unfiled income tax returns, audits, and penalties.
Unfortunately, musicians are more likely to have late filed or unfiled tax returns. This is likely due to the unique aspects of the work musicians perform. Musicians often work long and irregular hours. This keeps them from attending to their own financial affairs, which includes timely filing income tax returns.
Musicians are also more likely to have outstanding tax indebtedness. This is also due to the unique aspects of the work musicians perform. It is also due to the type of capabilities and training that musicians have. Musicians are resourceful and willing to fully consider issues before making decisions. This may result in inaction when it comes to resolving outstanding tax indebtedness. Other musicians face the opposite problem, namely, they take a wait and see approach.
Musicians are also likely to be audited by the IRS. The IRS generally views musicians as being more likely to have tax compliance problems. These tax compliance problems also stem from the unique aspects of the work musicians perform and their skills and training, but also from their tendency to prepare their own income tax returns or rely on lower-end tax preparers.
From a tax standpoint, right or wrong, musicians are defined by unfiled or late filed income tax returns, outstanding tax indebtedness, and IRS income tax audits. There are a number of court cases and administrative rulings that demonstrate this. If you are a musician, we can help you avoid or manage these issues.
We help musicians with unfiled or late filed income tax returns, outstanding tax indebtedness, and IRS income tax audits. We would like to hear from you if you are a musician and have one of these issues or are likely to have one of these issues in the future.
Please contact us to discuss your options today.