Nothing
strikes fear in the hearts of people more than receiving an IRS Audit
letter in the mail. Audits take significant time away from your
business and family, requiring you to gather mounds of records
substantiating each item reported on your tax return and develop a
comprehensive understanding of tax law.
The
IRS leaves no stone unturned in its mission to determine the accuracy
of your tax return. If you do not comply with the Auditors' wishes,
the IRS will recalculate your tax and send you home with a hefty tax
bill as your parting gift.
Audits take several forms. The most common
scenario is for the taxpayer to receive a letter regarding an item
that the IRS believes should have been reported on your tax return.
These letters are usually easy to address. More complicated are
correspondence and/or office audits where you are “requested”
to furnish evidence to support a position taken on your tax return.
These audits can become more complicated and drawn out. In each case,
it is important to address the situation correctly starting with the
initial contact.
Many
taxpayers decide to handle a tax audit 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.
IRS
Auditors are trained to extract more information from you than you
have a legal obligation to provide. IRS 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.
Auditors are also trained to search for additional tax issues. A
casual comment can result in the auditor requesting even more
information that was initially required.
In
most instances, the client does not have to be present at any
meetings with the IRS. I handle it all for you so that you need not
take time off fromf your business or job to handle the bureaucracy
and paperwork of the IRS. No lost wages or business. If I am
representing you, I deal with all issues. Of course, no decisions
regarding the audit are made without your consultation and agreement.
Rarely
do my clients even have to talk with the IRS. I 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 audit to me and I handle it
from A to Z.
