The Internal Revenue Service (IRS) has long relied on tax audits to police taxpayers. Just the thought of an audit is enough to unnerve most people, but the reality is that the IRS is auditing fewer taxpayers than ever before.
The number of audits may be lower, but it’s not zero. You may still receive a notice of an audit in the mail. Fortunately, most tax audits are relatively “mild” processes and only require you to clarify information that you reported on a tax return. Often, you can resolve the situation through mail correspondence with the tax agency.
More serious types of tax audits often require the assistance of a tax professional. A high-quality tax audit defense can protect you from the IRS. The team at Levy & Associates has years of experience managing and resolving audits with the IRS.
We can see you through the audit process and work to get you back on the right path. Contact Levy & Associates for more information about our tax audit services.
What Is a Tax Audit?
What actually triggers a tax audit? The IRS flags tax returns each year based on discrepancies. For example, you may have claimed a high number of tax credits or deductions. The IRS may contact you to make sure you are entitled to all the deductions you claimed.
The agency may elect to examine your tax return in more detail for a variety of reasons. The ultimate purpose of a tax audit is to thoroughly inspect the return and verify that your income and deductions are accurate.
The IRS typically only bothers taxpayers with an audit if they believe information you entered on a return is incorrect. At this point, many citizens decide to hire a tax professional to represent them during an audit.
There are many reasons that you should consider hiring a professional. Tax experts who regularly work with the IRS already understand how the audit process works, for one thing. Furthermore, they have resources and contacts that may help you resolve the audit quicker than you would without representation.
If you’re facing an IRS audit, consider hiring a tax professional to guide you through the process. Levy & Associates wants to represent you! Contact us today for more information.
Types of Tax Audits
There are three primary types of tax audits. The IRS determines which type of audit taxpayers are subject to:
- Mail Audits
- Office Audits
- Field Audits
Most tax audits are managed through the mail and are the least serious form of audit. On the other hand, office and field audits usually require more time and focus from both the IRS and the taxpayer.
Field audits mean that the IRS agent will come to your business or residence. An office audit requires you to find a time and place to meet an IRS agent on their terms. Of course, hiring a tax professional will allow you to have qualified representation at all meetings involving your audit.
Tax Audit Process
The tax audit procedure is straightforward yet time-consuming. The biggest complaint most people subjected to tax audits cite is that it takes them away from their business or personal life. As a result, many taxpayers elect to hire a professional tax audit defense.
IRS audit triggers are primarily linked to a computer system that reviews every new return. This means that common pitfalls that land people in tax audits are often easy to remedy.
Levy & Associates is here for you, no matter what triggered your audit. We can explain what to expect during an IRS audit, cover what documents you’ll need to produce, and overall prepare you for the process. Whether you are facing a business audit or have run into some trouble with a personal return, our team is on your side.
Tax Audit Defense
What happens if you get audited? The IRS usually takes some time to coordinate the arrangement as well as send you a notice. Taxpayers have the right to appeal the decision of an audit, but they must first go through the process.
Our audit defense professionals will represent you during your audit review and hearings. We’ll manage all correspondence with the IRS, enabling you to return to your small business or family. When you seek help from Levy & Associates, you can rest easy knowing you’re securing a dedicated team of attorneys, CPAs, former IRS officers, tax consultants, and more.
Contact Levy & Associates for Dependable Tax Audit Services
The mere thought of an IRS tax audit causes fear and anxiety in the minds of most American taxpayers. The process appears intimidating and leaves many people wondering:
- What records should you bring?
- What are they looking for?
- What did you do wrong?
- What penalties are involved?
The tax professionals at Levy & Associates have been representing clients during IRS audits for many years. You don’t have to fear a tax audit when you are well prepared—but it is to your advantage to meet with us to discuss your records and circumstances before proceeding with the process.
During our first meeting, we’ll examine the details of your situation and determine the best methods to research and present the facts to the IRS. We may need additional information, which we will help you gather. Our team will consider all aspects of your personal and professional finances, and how they may affect the tax audit.
Levy & Associates is available for free initial consultations. We’re happy to answer any questions you have about the audit process or address any concerns about your specific situation.
Our audit defense team boasts years of experience dealing and communicating with the IRS. We even employ some former employees of the IRS, which provides us with an in-depth understanding of the agency.
There’s never a good time to be audited, and the time-consuming process will take away from your business or family if you try to face it alone. Let us handle and coordinate communication, so you can return to your daily life. Contact Levy & Associates today to set up a free consultation.