Tax insurance is created to protect those who carry a higher amount of risk from their tax position. Some people do not even realize that this coverage is available. At Five Star Insurance Agency, we serve the people of Fords, NJ and the surrounding areas with quality tax services and information. If you think tax insurance may be beneficial to you, or if you would like to learn more about it in general check out these commonly asked questions.
Frequently Asked Questions About Tax Insurance
- What is tax insurance? It is a way to protect against tax risk/loss that can occur in certain circumstances when running a business or situation that requires many transactions or investments. Tax insurance provides protection from the IRS in high-risk circumstances
- Who may benefit from this coverage? Business owners, investors, large corporations, traders, attorneys, and more may benefit from this specialized coverage. If there is a great risk, then great protection is a wise choice.
- Is tax insurance a requirement for high-risk corporations? No, the government does not have a specific tax insurance requirement. Even if it is not a legal requirement, it may be a good idea to make sure that you are protected if certain changes can put you at risk of changing your tax situation. A lot of money can be at risk with large enough change, and this risk can be a domino effect in some cases.
Contact us at Five Star Insurance Agency if you are ready to purchase an insurance policy, or if you have any further questions. We serve the community of Fords, NJ and the surrounding areas.