The thought of an IRS audit or examination creates fear and stress in the minds of most taxpayers. An IRS tax audit can be an intimidating and complicated experience as it requires you to spend a great deal of time gathering and organizing records to substantiate the items reported on your return and developing an understanding of the tax law.
If you have received notice that you or your Florida business has been selected for a tax audit, don’t panic. The IRS allows you to have professional representation and defense. During your tax audit you are entitled to representation by a CPA, attorney or enrolled agent. When you select a qualified CPA with extensive knowledge of the tax law and audit procedures to provide IRS audit help you significantly increase your chances of a better outcome and ease the anxiety of the audit.
Types of IRS Audits
The IRS conducts three types of tax audits or examinations. Depending on the type and complexity of your tax return, you could be subject to a correspondence, office or field audit.
A correspondence audit is the most common type of audit and is conducted through the mail. The IRS will ask for documentation to support certain income or expense items reported on your tax return. In many cases, the IRS is attempting to reconcile differences between your tax return and information provided by your bank or brokerage company for items such as interest and dividend income, stock sales and mortgage interest expense.
An office audit is typically conducted when the IRS determines that the issues involved cannot be handled by mail and the best way to resolve the audit is with a face-to-face meeting with you. Prior to the audit you will be notified of the income and expense items the IRS is examining and the documentation you need to bring with you to your IRS audit. The IRS likes to examine Schedule C income and expenses, itemized deductions and rental property activity. During the office audit the examining agent may ask you about items in your tax return that were not included in the initial audit letter. When our tax resolution specialists provide you with audit representation and defense we work to limit the tax auditor’s attempt to expand the scope of the audit.
A field audit is usually more detailed and complicated and is performed by an IRS agent who has more training in audit techniques and greater knowledge of tax law than an examiner in an office audit. It is normally performed for business taxpayers and is conducted at the taxpayer’s place of business or the taxpayer’s representative’s office.
The tax resolution professionals at East Coast Tax Consulting Group have been successfully representing clients in South Florida and elsewhere in the State with IRS tax audits for many years. We will meet with you to answer your questions and address any issues that may arise during the examination of your return. We communicate and meet directly with the tax agent assigned to your audit, respond to any requests for information, research any tax issues raised by the agent, and handle any other matters that arise during the audit. If you are facing an IRS audit let our experienced tax audit specialists meet your audit representation and defense needs.
If you do not agree with the findings of the examiner conducting your audit you have the right to appeal your case to the Appeals Office of the IRS. The Appeals Office is independent of any other IRS office and provides you the opportunity to settle your case on a fair and impartial basis. You have 30 days from the issuance of the IRS agent’s report to file a tax protest requesting your case be heard by an Appeals Officer.
At East Coast Tax Consulting Group we will prepare and submit your tax protest and meet with the Appeals Officer to present and negotiate your case. We will present tax authority that supports your position and provides you an opportunity to reach an acceptable resolution.
Call us today for help with Audit Representation!
With over 30 years of experience, our tax professionals are here to help you obtain relief from your tax problems. Proudly serving Boca Raton, and elsewhere throughout Florida, our team of CPAs can help settle your tax debt for the lowest amount permitted and solve IRS problems such as bank levy, IRS audits, wage garnishments, unfiled tax returns, IRS liens and payroll tax penalties. Schedule your Free Consultation today!