An IRS (or State) tax audit may be conducted by mail or through an in-person interview and review of the tax payer´s records. The interview may be at an IRS office (office audit) or at the tax payer´s home, place of business, or accountant´s office (field audit).
The IRS will ask you to provide them with a copy of your tax return and additional documentation in
order to determine your income and expenses. they will ask for bank statements, receipts General ledger ext.
The next step can be a request for an interview and a tour of your business. – do you really want to meet them all by yourself?
After that, the IRS will issue an audit report explaining which changes they decided to make and what will be the tax and penalties. they will allow you 30 days to respond to this report if you don´t respond or you disagree they will issue a Final Notice of deficiency (NOD ) that will allow you to file a petition with the tax court.
You can call us on anytime during this process (it is highly recommended that you will call us as soon as you get the first letter).
If you miss the deadline and don’t contest the liability the assessment will become final and the IRS will send you collections letters, even at this point years after the audit, the IRS will allow you to prove that the assessment was incorrect. We will have to file an Audit Reconsideration and ask the IRS to put a hold on all collection while your case in under review. remember when filling an audit reconsideration you will have to provide the IRS all the documentation to prove that their assessment was incorrect.
IRS Audit Reconsideration:
An audit reconsideration is a process the IRS uses to reevaluate the results of a prior audit where the additional tax was assessed, or a tax credit was reversed. IF a tax liability caused by a prior audit to your return is incorrect and believe that you can provide supporting documentation to back it an Audit reconsideration can be your option. You have a tax liability caused by a prior audit, many tax resolution firms will offer you a payment plan or an offer in compromise.
Did you know that there is an alternative that can eliminate your tax liability? An audit reconsideration is a process the IRS uses to reevaluate the results of a prior audit where the additional tax was assessed, or a tax credit was reversed. If the taxpayer disagrees with the original determination he/she must provide new information for the audited issue(s) that was not previously considered during the original examination. It is also the process the IRS uses when the taxpayer contests a substitute for return (SFR) determination by filing an original delinquent return or when there is an IRS computational or processing error in assessing the tax.
Consultation: Free of charge.
Investigation: (in 2 days) Free of charge: Please send us a copy of your tax return and the most recent letter you received from the taxing authorities. We will review them and explain to you what are you facing, and what documentation we need in order to fight it.
Retainer/Pricing: Only after reviewing your documentation as explained above we will be able to know what issues are you facing and how much time we will have to devote to your case.
We will explain to you in detail the price for our service. If we feel that the risks you are facing are minimal and the potential tax liability doesn’t justify a representation we will tell you this. unlike other firms, if we can’t help you we will not take your case. we can give you a few tips on what you should and shouldn’t do.
Our fee: We charge a flat fee, no hidden fees and we never charge by the hour. we have a money back guarantee so in the unlikely event where your savings will be lower than our fees we will give you a refund.
Communication: Once we got your Power of attorney we will communicate the taxing authorities. from now on you will not have to talk to the IRS or State. We do it on your behalf, We have a policy of providing our clients a by weekly report of the progress in his case.
We need your cooperation: We will ask you to provide us with supporting documents (bank statements, Invoices e). We will organize them and send them and we will explain to you what to do and what alternative you have if you do not have all the documentation.
We will meet the IRS and if needed take your case to higher levels: sometimes a case cant be solved with the agent who was assigned to your case for many reasons, in those cases we will keep on and will take your case to appeals or even file a petition with the tax court. All part of our retainer and with no additional charge. we know that giving you the best result does not only benefit you but also keep our reputation.
Resolution: After getting the final report that we can all agree on we will settle your case (always with your written approval). If there will be some additional tax liability we will help you with a payment plan.