Port St. Lucie IRS Audit
When Dealing with an IRS Audit, Level the Playing Field by Having Your Own CPA Auditor Attorney Handle the Situation
Being audited is usually not a pleasant experience, especially if you’re on the receiving end of an IRS audit. IRS audit can occur for several reasons, some entirely beyond your control.
Hiring a Port Saint Lucie audit lawyer who is also a licensed, experienced CPA with a strong audit background and an IRS Enrolled Agent with a keen knowledge of IRS protocols and procedures will help you properly navigate the tax audit successfully. Having an actual auditor at your side will provide tremendous assistance and guidance to get you through each step of the audit and help ensure that the IRS’s auditors adhere to acceptable audit practices.
What Is an IRS Audit?
The IRS tax audit is a formal review process in which the IRS analyzes your tax returns to confirm that you submit accurate information and calculate your tax liabilities in full. During the audit, the IRS will investigate your tax return, review supporting documents, and verify if your calculations are correct.
The IRS has the authority to review tax returns randomly or choose specific tax returns that they believe are problematic. Some examples of individuals who may be selected for a tax audit include those who:
- Provided information that does not match the records on file with the IRS
- Failed or neglected to report some of their income
- Reported expenses that exceeded their income
- Have a suspiciously high number of charitable contributions
- Do certain business deals with others
After the audit, the IRS will determine whether your tax return was filed correctly or provide you with a list of requested changes. You can then agree to make the changes (which may mean getting a refund or paying more in taxes) or appeal the results.
When Can the IRS Perform an Audit?
Generally, the IRS has a limited amount of time in which they can perform an audit. Congress has established a statute of limitations for performing tax audits to help ensure that all supposed issues are addressed promptly and that taxpayers do not face audits of returns for which they may no longer have supporting documents or clear knowledge of (i.e., audits of taxes from decades ago).
How Does the IRS Notify You of an Audit?
IRS sends out their notice of the audit by mail. Taxpayers do not receive notification from the IRS by phone or email to notify the taxpayer of an audit review.
Where Are IRS Audits Conducted?
IRS audits are done either through the mail or done in-person meetings. IRS will make this determination based on the merits of each situation. In-person meetings are held at any of the following locations:
- Your business location
- IRS Agent’s office
- Your residence
How Does the IRS Conduct an Audit?
The IRS can conduct an audit in the field, through mail correspondence, and at the IRS office.
- During a Field Audit, the IRS agent travel to where you keep your records which could either be at your home or business.
- A Correspondence Audit is when the IRS requires additional information or documents from you that need to be mailed in. This type of audit is the most common; you do not have to meet with an IRS agent physically.
- During an IRS Office Audit, you have an in-person meeting with an agent at an IRS facility.
What Should You Do During an IRS Audit?
Getting an IRS audit notice may be a daunting experience; however, some activities could significantly reduce stress and make it a more straightforward process to work through.
Hiring an attorney with an audit background will help you significantly understand your rights and ensure the audit is run with greater efficiency and within a correct framework.
To help facilitate an IRS tax audit in Port Saint Lucie, you should:
- Have an organized central location for your tax records.
- Limit the providing information only to what is requested and only for the applicable tax year.
- Ensure that all amounts listed on tax returns are supported by source information.
- Have additional copies of the data for auditors.
Why Is Hiring a Multi-Licensed Tax Attorney – CPA – IRS EA the Best Option For Dealing With an IRS Audit?
Since tax audits can be very time-consuming and stressful, having a three-in-one Tax Attorney-CPA-IRS EA will help ensure all facets of the situation are adequately covered and save you time and money by:
- Utilizing a seasoned Tax Preparer to address any current or potential tax return issues
- Having a CPA with an audit background will ensure correct audit procedures & techniques are by all parties
- Deploying specialized tax knowledge of an IRS EA to ensure proper application of tax law and methods are present
- Having effective advocation of a tax attorney on your side
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