What should you do if you are notified of an IRS audit? Your first instinct – deep concern – is well founded. The IRS is about to inquire into your personal or business returns, and the actions you take and information you provide will have a profound effect on the outcome of your audit. To begin with, the IRS is usually interested in some aspect of a specific year’s return. They will be asking questions about specific information or aspects of your return, not the entire return itself. Audits should initially be limited to a specific year as well. Most taxpayers, in an attempt to win over the IRS and provide an “explanation” of their information provide far too many details allowing the IRS to expand the scope of the audit, and in many cases go back into prior year’s returns as well. IRS examiners are expertly trained and can ask questions or request information that is designed to increase the vulnerability of the taxpayer or entity being audited.
Your first action should be to contact an experienced tax attorney who can review the details of the audit in question, and manage all communications with the IRS on your behalf. Your communications with our tax attorneys are protected by the “attorney-client privilege” which allows you to openly share all information in a manner that is protected from the IRS. We will work with you to determine the appropriate responses, provide the information and help to limit the scope of the audit and the exposure you will ultimately face. The IRS has not decided to audit you because you made a mistake or they need some number updated. They are looking for tax revenue – money from your pocket. We invite you to contact us today for a free consultation with an experienced tax attorney at 866-631-3470. Protect yourself, and remove the worry and burden of the IRS from your shoulders.
