What an IRS Audit Involves
For many people, nothing strikes fear in their hearts more than getting notified that they have been selected for an audit by the IRS. Even when you are confident that you have filed your tax returns correctly and on time, the prospect of getting scrutinized by the IRS is quite nerve-wracking.
An income tax audit by the IRS means that the information that you provided in your tax returns will be examined to verify if the taxes reported and paid are corrected. An IRS tax audit can be conducted via mail, through in-person interviews or a combination of these two methods. If the audit is to be conducted through an in-person interview, the interview may be carried out at the IRS offices, in your home or business premises.
The IRS will let you know the records that they need for the audit and the timing for the audit will depend on the audit’s scope, how complex it is and the availability of the records needed for the audit.
When the audit is concluded, you will be notified if there are any proposed amendments to your returns; sometimes there are no proposed changes. If you disagree with the proposed changes, you can appeal the findings or ask for a further review.
How Are Taxpayers Selected For Audit?
There are several ways returns are selected for an audit including;
1. Random Selection
A certain percentage of taxpayer accounts are selected for an IRS audit at random.
2. Documents
Falsified information is one of the most common IRS audit triggers. The information you provide in your tax returns should match the information present in the documents that you have provided to the IRS such as 1099 or W-2 forms. When this information doesn’t match, your account will be flagged for an audit.
3. Related Audits
If your returns are related to another account that has been selected for an audit, your returns may be flagged for an audit as well.
Don’t Ignore the Audit Letter from the IRS
If you have been selected for an audit, the IRS will notify you through a phone call or mail. When this happens, you may be tempted to ignore the notice and wish the audit away. Failure to comply with IRS’ requests will result in a bigger IRS tax levy and this just adds to your IRS tax problems.
Why Choose Karla Dennis And Associates Inc. ™ for Audit Representation
Hiring a tax professional for IRS tax audit help is the best form of audit defense. Those who choose to represent themselves do so hoping to save money but they usually end up making costly errors during the interview process as they are not familiar with the IRS audit techniques.
IRS agents are trained to get more information from audit candidates than what the candidates are legally obliged to provide and this can put you or your business in even more trouble. IRS agents know that people fear them and that most people are not aware of their rights when it comes to IRS audits and they use this to their advantage.
The experienced audit representatives at Karla Dennis And Associates Inc. ™ provide you and your business with the professionalism and protection that you deserve when dealing with auditors from the IRS. In fact, our clients hardly get to talk to IRS auditors. We handle all the communications and tax defense on your behalf and this way you don’t have to waste valuable company time dealing with the bureaucracy of an IRS audit. All you have to do is forward the IRS audit notification to us and we will take it from there to ensure you get IRS tax debt relief.
Here is a review of why our audit representation services are the best in the region:
- Save you money – We use the audit to identify instances of tax overpayment and to help you claim your refund.
- Protect taxpayer’s right – IRS auditors may try to widen the scope of the audit and we will make sure this doesn’t happen.
- Appeal or defend an audit – If the proposed changes are not favorable, we will appeal and get you a better verdict.
- Unfiled tax returns – We help you with your unfiled taxes so as to get you into the good books of the IRS.
From Our Blog
People Double Their Productivity with One Simple Technique?
Who Else Wants to Double Their Productivity with One Simple […]
Eating Healthy on a Budget
Eating Healthy on a Budget With the economic situation in […]
Why Small Business Owners Should Keep Accurate Records
Why Small Business Owners Should Keep Accurate Records This post […]
How to Weather the Storm of the Economic Collapse
How to Weather the Storm of the Economic Collapse […]
The Role of Bookkeeping Services in Your Business
The Role of Bookkeeping: This post was originally published on July […]
How to Strengthen Your Money Management Skills
How to Strengthen Your Money Management Skills It’s always a […]