So you have received that dreaded letter from the IRS, you are being audited. Sadly, that is understandable as the examination process can be lengthy, frustrating, and costly.
Hiring a qualified representative is the best decision you can make whether your audit is being conducted in person or via correspondence. While trying to represent themselves in an audit taxpayers realize too late that they were being “penny wise, but pound foolish.” Auditors know that a taxpayer is uninformed about both the tax regulations and their rights in the audit process and often will exploit this at your expense. Unknowingly, taxpayers may make statements that will open a can of worms and lead to more in-depth audits of additional tax returns. Or they may accept a change to their tax return that really isn’t needed just to get the audit completed which could lead to further audits in the future.
We go into an audit prepared. By being prepared, we can identify areas of vulnerability with the audited return and collect relevant support for these and other items. Being prepared allows us to establish a positive rapport and respect with the agent. By making their job a little easier, we can often obtain a better and quicker resolution for our client.
Contact our firm today to discuss your tax audit and how we can assist you.