We can help you if you’re undergoing an IRS Audit. If you’ve received papers, call us to discuss your situation right away.
What is an IRS audit?
An IRS audit is a review/examination of an organization’s or individual’s accounts and financial information to ensure information is being reported correctly, according to the tax laws, to verify the amount of tax reported is accurate. The tax lawyers are seasoned and experienced in tax controversy and can successfully guide you through an IRS audit.
IRS Audit Selection
Selecting a return for audit does not always suggest that an error has been made. Returns are selected by the IRS using a variety of methods, including:
An audit may be conducted by mail or through an in-person interview and review of the taxpayer’s records. The interview may be at an IRS office (office audit) or at the taxpayer’s home, place of business, or attorney’s office (field audit). The IRS will tell you what records are needed. Audits can result in no changes or changes. Any proposed changes to your return will be explained by a document called an exam change report.
IRS Audit Notification
Should your account be selected for audit, you will be notified in two ways:
In the case of a telephone contact, the IRS will still send a letter confirming the audit. The letter notifying you that your return was selected for audit will also contain an information document request (IDR) that will outline which line items will be examined and inform you which documents are being requested from you.
Your Rights During an Audit
You have significant rights as a taxpayer in the examination, appeal, collection, and refund processes. These rights include:
It is critical that you obtain representation by a skilled tax attorney who will ensure that your rights are protected during any contact you have with the IRS.
IRS Audit Length
The length of each audit varies depending on the type of audit, the complexity of items being reviewed, the availability of information being requested, the availability of both parties for scheduling of meetings, and your agreement or disagreement with the findings.
You will be provided with a written request for specific documents needed. The law requires you to retain records used to prepare your return. Those records generally should be kept for three years from the date the tax return was filed.
The IRS does accept some electronic records. If records are kept electronically, the IRS may request those in lieu of or in addition to other types of records.
An IRS audit can be concluded in three ways:
What Happens When You AGREE With The Audit Findings?
If you agree with the audit findings, you will be asked to sign the examination report or a similar form depending upon the type of audit conducted.
If money is owed, there are several payment options available. If you cannot make a full payment right away, you are allowed to establish an installment agreement with the IRS to make monthly payments that are affordable to you. You also may qualify for an offer in compromise or innocent spouse relief.
What Happens When You DISAGREE with the Audit Findings?
A conference with a manager may be requested for further review of the issue or issues. In addition, Appeals Mediation Programs or an Appeal request may be filed. If you cannot resolve your disagreement with the manager, you are entitled to use every avenue to dispute the proposed deficiency.
Free Consultation with an IRS Attorney
If you are here, you probably have a IRS audit you need help with, call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
Ascent Law LLC
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via Michael Anderson http://www.ascentlawfirm.com/irs-audit/
Spent two years building electric trains for the underprivileged. Spent several years working with carnival rides in New York, NY. Garnered an industry award while analyzing action figures in Tampa, FL.