Financial Advisors Want To Know Podcast
Welcome to the Financial Advisors Want to Know Podcast Hosted by Catherine Tindall, CPA.
Each short episode is a targeted topic for advisors looking to scale intelligently, save taxes, and build their practice to 7-8 figures the right way the first time. Join Catherine and the experts she brings on as you grow and scale your practice.
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Financial Advisors Want To Know Podcast
Ep 109: What to Do When the IRS Comes Calling
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Financial Advisors Want to Know: What to Do When the IRS Comes Calling | Ep. 109 Patricia Gentile
Welcome to the Financial Advisors Want to Know Podcast, I’m Catherine Tindall, a CPA with Dominion where our focus is helping financial advisors navigate income tax planning and compliance for their firms.
In this episode of Financial Advisors Want to Know, I sit down with Patricia Gentile, attorney, CPA, and founder of New England Tax Relief, to demystify what happens when the IRS comes calling.
We discuss how IRS notices actually work, why many notices are generated automatically, and what taxpayers should do before paying a proposed assessment. Patricia also explains why response deadlines matter, how unresolved notices can escalate, and what rights taxpayers can lose by waiting too long.
Key takeaways:
Don’t panic when an IRS notice arrives—but don’t ignore it either. Many notices are automatically generated, and responding early can keep a relatively simple issue from becoming much more complicated.
An IRS notice doesn’t automatically mean the IRS is right. Before paying a proposed assessment, take the time to understand what the notice is asking for and whether the IRS has the full picture.
Strong recordkeeping is one of your best defenses. Business owners should be prepared to substantiate deductions, mileage, travel, and other expenses—and even incomplete records may sometimes be reconstructed.
Keep business and personal expenses clearly separated. Clean records and proper documentation make tax preparation easier and put you in a much stronger position if deductions are ever questioned.
Owing more than you can pay doesn’t mean you’re out of options. There are ways to address outstanding tax debt, but acting quickly—and staying current on new tax obligations—is critical to resolving the problem.
Connect with Patricia:
https://www.linkedin.com/in/patricia-gentile-50137134/
Patricia's website:
https://newenglandtaxrelief.com/
Patricia's podcast:
https://newenglandtaxrelief.com/podcast/
Connect with Catherine:
https://www.linkedin.com/in/ctindallcpa/
Sign-up for our newsletter:
https://dominion-enterprise-services.kit.com/9944b047d9
Contact Catherine's Team:
admin@dominiones.com
Looking for a more holistic relationship with your taxes? Book 15 minutes to have a coffee chat with Catherine to see if you could be doing more: https://calendly.com/ctindall/podcast-getting-to-know-you
Sign-up for our newsletter for the only tax update you’ll need to read and future episodes here and how to get in touch with Catherine: https://dominion-enterprise-services.ck.page/9944b047d9
Visit us at DominionEs.com
Connect with Catherine on LinkedIn
