Tax Preparation in Washington, DC

There's no single rate. Fees follow the work involved, so a W-2 return with a few deductions costs less than a business return, a return covering income in several states, a stack of overdue years, foreign account reporting or an open IRS issue. A good advisor tells you up front which records they need, which returns are included, and whether planning or IRS representation is part of the job, so the quote means something.

Accountants often cover the broader financial side: bookkeeping, financial statements, budgets. A tax advisor concentrates on returns, filing positions and planning for what the tax bill will look like. Many people need a bit of both. An Enrolled Agent adds one thing most preparers can't offer: the federal license to represent you in front of the IRS if an audit, collection notice or appeal follows the return.

Last year's return, all W-2s and 1099s, brokerage and bank tax forms, records of any business or freelance income and expenses, proof of estimated payments, and paperwork for deductions or credits you plan to claim. Business owners should add year end financial statements and entity details. If you have foreign accounts, a rental property or income from several sources, we'll ask for a few more items.

Yes. We figure out which years are missing, pull your IRS wage and income transcripts, gather what records you have, and prepare the returns accurately. The order matters, because overdue returns change your balance, your penalties and which payment options you can use later. If a balance does come out of it, our tax resolution work picks up right where the filing ends.

Yes. Enrolled Agents hold a federal license that allows them to represent taxpayers before the IRS on any matter, in any state. That covers letters about your return, audits, collection cases and appeals. Nobody can promise a particular outcome, but having a representative means the IRS deals with someone who knows the process and has your file in hand.

We do, mainly for established small and midsize companies and owners with more involved finances. Many DC area businesses hold federal contracts, so we prepare returns with an eye on how indirect costs, contract revenue and the accounting system feed the numbers. Businesses that need more than a return can also use our GovCon accounting and fractional CFO services.

As soon as your year end forms start showing up, usually late January. Starting early leaves room to chase a missing 1099, reconcile your business books, check estimated payments and sort out questions before the April rush. If you have business income, foreign reporting or old returns to file, start even earlier, because those take more time to document.

Often it's the first step. If returns are missing, or the IRS says you underreported income, getting accurate returns on file establishes what you really owe. Once that's clear, we can look at an installment agreement, penalty abatement, Currently Not Collectible status or, for people who qualify, an Offer in Compromise.