Tax Audit – Best Bottom Line Tips To Avoid A Pitfall
IRS Tax Audit and State Tax Audit Representation
Nothing strikes fear in the hearts of people more than receiving an IRS Examination Letter in the mail. Audits take significant time away from your business and family. They require you to gather mounds of records substantiating each and every item reported on your tax return. It truly requires a comprehensive understanding of tax law. It is a daunting experience and rightfully so. With no professional tax audit representation, you end up paying more likely other tax years examined. It is easy to see that it makes sense to seek tax audit help to get appropriate help with IRS audits.
The IRS leaves no stone unturned in its mission to determine the accuracy of your tax return. If you don’t comply with the examiner’s wishes, the IRS will recalculate your tax. Then, they will send you home with a hefty tax bill as your parting gift.
Many taxpayers decide to handle tax audit representation themselves, and discover they may have been “penny wise,” avoiding a representative’s fee, but “pound foolish,” because they received a substantial bill for a significant tax deficiency. In order to properly defend yourself, you must have an extensive knowledge of the tax code and regulations.
IRS Examiners Are Not Your Advocate
IRS Examiners’ objective is to extract more information from you than you have a legal obligation to provide. Auditors know that most people fear them and are ignorant of their rights. As a result, they know they can use that fear and ignorance to their advantage.
Your Rights As A Taxpayer During A Tax Audit state that you may either represent yourself or have someone else represent you in your place. However, your representative must be a person able to practice before the IRS, such as an enrolled agent. An IRS audit attorney is an option but this is generally a more costly option.
Rarely do our clients even have to talk with the IRS. As enrolled agents, we handle it all for you so that you need not take time off of your business or job to handle the bureaucracy and paperwork of the IRS. No lost wages or business. You simply forward notification of an examination to us and we handle it from A to Z.
If you receive an IRS audit notice or other IRS examination letter stating that your return has been selected for an examination, it is time to seek tax resolution services from a tax professional. If you have already been through a tax audit, which resulted in additional taxes, penalties, and interest being assessed, you do have options besides paying the tax liabilities in full. These options include filing an appeal, audit reconsideration, and/or an offer in compromise.
Tax Audit Representation Assistance
We will help you understand the notice received and assist you in preparing an initial tax audit response.
If you’ve received an audit notice from the IRS, contact us for an initial review and free confidential consultation about your audit representation options.