My CPA has spontaneously retired and I did not get my final 10/15 numbers into him before his deadline to file. A new CPA is buying his practice, but I am affraid that I will not be able to file like I need to as I dont think he’s gonna make any further adjustments for me now. I also think because I am not sticking with original CPA that it puts me at risk - I was also warned that I will probably be up for an audit as the IRS has added a ton of new people to go after small business owners. Is this true? What are my options at this last minute?
First don’t panic.
Second, the strategy I’d recommend is to make a best guess estimate of the amount you owe on your 2022 taxes and make a payment towards that amount. You make the payment online at https://www.irs.gov/payments/direct-pay. Print the payment confirmation.
The penalty for filing after the October 15th is based on the amount you owe. For example, if you are due a refund on your tax return there’s no penalty even if you are 3 years late on filing. So by making a payment now you can minimize the penalties.
Also filing late doesn’t necessarily increase your chances of an audit. The income and deductions on your return are the biggest determinants of your audit risk.
Third, after you’ve made a payment, you should go to https://markjkohler.com/tax-pro-profiles/ and contact a tax professional from the website to help you complete and file your taxes.