One of the most dreadful notices a taxpayer can receive is a notice that they’re being audited by the IRS. IRS Audits can occur for a variety of reasons, or for no reason at all. It is never advisable for any taxpayer to represent themselves during an IRS audit. Platinum Tax Defenders has a team of tax attorneys, including x-IRS tax attorneys, who are here to help. You’ll want to seek out the help of a tax resolution firm as soon as you get your first notice. Delaying or ignoring these types of communications from the IRS can only result in additional consequences.
WHAT TO DO IF YOU RECEIVE AN IRS AUDIT NOTICE
If you receive a notice from the IRS that you are about to be audited, don’t panic. Take a deep breath and realize that everything is going to be okay. IRS audits happen all the time. It’s the IRS doing its due diligence to make sure that taxpayers are filing their tax returns truthfully and accurately. Communicating with the IRS can be an intimidating experience. It can be intimidating even when you know you’ve filed everything correctly, to the best of your knowledge. Therefore, we recommend that every audit should have a tax resolution professional representing you.
Here are a few fundamental tips for handling a notice of audit from the IRS.
Do not ignore the notice.
You typically have 30 days to respond to the notice. If you don’t respond during that time, the IRS can act. The IRS can automatically adjust your tax liability. If the IRS automatically adjusts your tax liability, the next form of communication you’ll receive from them is a bill. Make sure you get in touch with Platinum Tax Defenders as soon as you receive your first notice.
Make sure you read the notice and follow what it says.
The audit notice will give you specific information regarding what items are being examined. Paying attention to this information will also be helpful when you’re conversing with your tax resolution firm regarding your audit.
Get your financial records organized.
Making your auditor’s job easier, and your tax expert’s job easier, can be beneficial in settling your case. Having your financial documents and necessary paperwork ready will show that you are organized and on top of your game. This will also allow the auditor to quickly review the important documents, and therefore will speed up the auditing process.
Find any missing records.
If you’re going through your documents and realize that some are missing, request to have them sent immediately. You should request these documents even if you think you won’t need them.
Bring only what the IRS has requested.
It’s not necessary to bring any records or documents that the IRS has not specifically requested.
Provide only copies of your documents.
Do not bring the original documents to the audit. If you do bring the originals, request that the IRS agent make a copy, and not keep the originals. There’s a very good chance that handing over any original documents to the IRS will get them misplaced or lost.
Know your rights.
Working with tax resolution professionals Platinum Tax Defenders will ensure you understand all the rights you have as a taxpayer. They are professionals who are intimately knowledgeable about tax law and taxpayer’s rights. Every taxpayer has the fundamental rights of due process, fairness, and representation. At Platinum Tax Defenders, we understand these rights. We know how to protect you from being taken advantage of. Our team of tax professionals can work with the IRS audit examiner to accomplish a clean and simple audit.
Speak with your tax resolution professional about whether you should negotiate and appeal.
Once your audit is complete, the IRS agent will determine any taxes and penalties that you owe. However, the results can always be appealed. The IRS’ lawyers are ready to negotiate and will often settle cases before going to court. Therefore, it’s important to work with your tax relief professional on next steps after your audit is complete.
WHAT IS AN IRS AUDITOR LOOKING FOR DURING AN AUDIT?
The IRS auditor represents the IRS and is looking to find errors on your return. If there are errors, it would be wise to have someone assist you in fixing these errors. The next steps are admitting fault and moving onto the next part of the process. If there are no errors, it is essential to have someone there to argue your case. In your argument, you will provide the required documentation to have a clean and clear audit. Audits take significant time away from your life. They require you to gather many old records from years past. Inspections often tend to bleed into other years of audits as well. The audit examiner will be very thorough. He or she will want to review all the documents. Complying with their request is a vital part of the audit process.
HOW DOES THE IRS AUDIT TAXPAYERS?
The IRS can audit you by mail, in their local offices, or your office or home. The location of your audit is an indication of the severity of the inspection. The more severe audits take place at your home or office. Examinations are all about documentation, proving documentation, and providing documentation for documentation. If you have evidence of what you say is accurate, the audit will be smooth. If you do not, then having a concrete plan is necessary. The examiner will try and have you give answers to questions for which you have no proof.
WHO IS A TARGET FOR AN IRS AUDIT?
Part of the IRS’ job is to make sure all taxpayers pay what they owe. The only way for the IRS to complete this task is by verifying some returns through an audit. It’s hard to determine who could be at risk for an inspection. The IRS has revealed some of the methods it uses for determining reviews. Each tax return receives a score via the Discriminant Inventory Function System.
A higher score is more likely to result in an audit. Often, tax returns are chosen for a review because something shows up as out of the ordinary. Unordinary scenarios include a charitable deduction that equals half of the taxpayer’s income or fails to file a tax return. There are also random audits that the IRS performs. Get help from a tax professional if you think you’re at risk for a review.
IRS TAX AUDIT REPRESENTATION
When being audited by the IRS, it’s a good idea to have tax audit representation. A tax or legal professional stands in on behalf of a taxpayer during an IRS or state income tax audit. The IRS and all states allow taxpayers to have an authorized representative during an income tax audit or examination. The types of representatives who can speak on behalf of taxpayers include attorneys, certified public accountants, and enrolled agents.
Platinum Tax Defenders have years of experience representing many clients in both personal and business tax audits. You might be sure you’ve done nothing wrong. Or you might be unsure of the reason for the review. Either way, it’s not a good idea to represent yourself against the IRS. Platinum Tax Defenders can provide you with the experience you need to deal with the IRS during an audit. As a business owner or individual, it’s essential to know and understand your tax rights.
Platinum Tax Defenders
WHO WE ARE
Platinum Tax Defenders is a full-service tax resolution firm in Los Angeles that has been helping taxpayers resolve their IRS and State tax issues since 2011. Our team of tax attorneys, accountants, and enrolled agents have a combined more than 90 years of experience in the financial services industry. Our team is ready to provide tax relief services to clients facing wage garnishments, bank levies, liens, and other challenges.
WHAT WE DO
Platinum Tax Defenders is a full-service tax resolution firm that includes a tax attorney, IRS enrolled agents and certified public accountants specializing in providing tax relief services for taxpayers facing IRS or State tax debt. We work with the IRS on your behalf to come up with reasonable payment options and settlements. Our tax professionals are knowledgeable and experts in tax negotiations. The consequences of unpaid taxes vary by each individual taxpayer’s situation. But unpaid tax debt can lead to wage garnishment, property liens, and bank account levies.
Platinum Tax Defenders will help you reach a tax resolution plan before it’s too late. We offer fast response protection to our clients and a commitment to gaining major tax reductions. Whether this is your first time facing a tax problem, or you have previously hired a tax relief firm in Los Angeles to resolve your tax debt, we have a track record of consistently garnering IRS settlements for our clients.
WHY TRUST US
At Platinum Tax Defenders, we’ve developed an impeccable reputation for doing what’s best for our clients, 100 percent of the time. We are honest and upfront with you about your tax debt situation, and the type of tax resolution services we can provide. Each individuals’ tax situation is different, and we’ll do whatever we can to negotiate with the IRS to help you reach a tax relief plan that works for you. We are experts in our field and work diligently to resolve the specific tax issues that each of our clients faces. Platinum Tax Defenders offers fair and honest tax resolution services, and you can count on us to operate professionally and legally.
Many tax relief services in Los Angeles tend to make unrealistic promises. You can count on us to always be honest and upfront about your financial situation, and what type of tax resolution results you should expect.