Corey Tanwir is a hardworking individual who has taken on many different roles in life. He started out as an accountant and then transitioned into private individual tax representation. This was a necessary move because of the pandemic that disrupted regular life in 2020. Jobs and placement were shuffled around, and companies are reevaluating what, where, and how they want their employees to work. The rental property market has also been affected, with many people finding themselves under significant strain. In 2022, his professional life is the busiest it has ever been.
In general, accounting is never simple, as Corey can attest. He had to start by completing the same accounting school requirements as everyone else in the field. His main focus was taking accounting classes, covering everything from direct expense tracking to indirect costing to more complex topics like government fund accounting versus private GAAP accounting. All that training would eventually be used as he worked his way up from basic bookkeeping entry to management. He then started his own tax representation company in New York City. And that’s no minor achievement considering how difficult it is to understand the tax code alone, which is frequently modified as new tax changes emerge due to shifting political climates.
Corey Tanwir worked with businesses and accounting teams during his formative years, helping them with challenging financial records, financial statements, and other issues. Like any seasoned accountant, Tanwir was exposed to his fair share of audit examinations, either by responding to information requests or watching how audits unfolded for their particular review task. Tanwir kept his attention on developing his skills throughout it all, using each level of study as a stepping stone to advance to the next level of accounting and, finally, the world of taxes.
Specifically, with freelancers, small firms, and independent contractors, the federal government and state tax offices have long complained that huge sums of tax income are being lost in the independent worker environment. Because many of them involved no employer-shared payroll taxes and no employee tax filing, they were popular with regular enterprises. So it should be no surprise that small firms and contractors experienced strong growth. The American Recovery and Reinvestment Act, or ARRA, and the regulations that made up socialized health insurance under Obamacare finally resulted in a heavy-handed ramp-up of tax reporting checks and automation. Both contained technical wording intended to expand the IRS’s tax reporting reach.
Corey Tanwir soon saw that the rise in tax reporting form requirements would not end the digital age. The world of automatic matching will be thoroughly explored. Employers of all sizes would notice an exponential increase in reporting, and tax authorities would start using data mining to discover people they believed to be typical tax evaders. These agencies might put a lot of pressure on people to settle to make everything go away, thanks to the force of tax laws and associated criminal consequences. Tanwir could see that a crucial role was going to be played by an advocate who could speak for clients and make sense of all the information gathered from various reporting sources. That formed the basis for all client tax work done by his organization.
Tanwir and his team currently work on issues for customers in New York City and other localities that deal with difficult tax situations and serious concerns from audits regularly. Tanwir’s team at Madison Tax Group tackles all concerns, whether they include incorrect filings, information errors, problems with tax reporting, or something similar. They continuously and tenaciously seek to find solutions that are beneficial to their clients. Additionally, Madison Tax Group offers thorough counsel to clients, assisting them in avoiding problems altogether by remaining compliant with tax laws. Preventing damage is significantly less expensive than repairing it after the fact. Madison Tax Group has worked with him to prevent unnecessary mistakes for hundreds of clients. And the business’s track record demonstrates it.
Many factors that led to the need for Madison Tax Group and Tanwir’s work are now apparent in retrospect. However, in 2005, few people agreed. And that sort of quality is what makes people like him stand out from the crowd. Instead of ignoring the chances, they predict what the disruption will probably be in the future and prepare for it. Call them contrarians or something similar, but Corey Tanwir and others have repeatedly shown that going against the tide can be very profitable.