The IRS audits tax returns to verify that the tax reported is correct. When a tax return is selected for examination it does not necessarily mean that the taxpayer has made an error or has committed tax fraud. Many IRS audits result in a tax refund to the taxpayer or acceptance of the tax return as filed.
Even if you have kept meticulous books and records, followed the letter of the law and filed and paid your taxes on time, an IRS audit can be a daunting and stressful process.
Everyone dreads getting a notice from the government that their tax return has been selected for an IRS audit.
If you get an IRS audit notice, follow this list of Do’s and Don’ts:
If you receive an IRS audit notice, print this checklist out as a guide to help you through the process.
Looking for a representative? We can help. Call or contact us today.
The IRS audited my 2007 and 2008 tax returns and disallowed 100% of my business expenses because the auditor said I didn’t have sufficient records. I hired The Pappas Group and they were able to prove by other means that my deductions were valid and the IRS ended up only disallowing about 15% of my expenses. Had I not hired Pappas I would been assessed taxes, penalties and interest in excess of $100,000. The Pappas group now does all of my accounting work and prepares both my business and personal tax returns.