IRS tax audits involves a thorough examination of your tax return to verify its accuracy. The IRS has the authority to audit any year’s taxes, and this scrutiny can occur within three years of filing the return. We offer tax audit representation help to our clients on an annual basis.
If the IRS suspects discrepancies such as underreported income, overstated deductions, or other errors on your tax return, you will receive an audit notice detailing the specific items under question and the reasons for the audit.
Subsequently, you’ll be required to substantiate your return information by presenting supporting documents like bank statements, receipts, invoices, or other relevant records. Following the review of your evidence, the IRS will make a determination on whether additional taxes are owed.
If the IRS discovers that you owe more taxes, you’ll be issued a charge for the outstanding amount, along with interest and penalties on unpaid taxes. If you agree with the IRS’s findings, you can settle the amount and move forward. However, if you disagree, you have the right to appeal. Navigating the appeals process can be intricate, which is why having an experienced tax accountant like Alex Gurovich on your side is crucial. Our firm has successfully represented taxpayers in IRS audits and can guide you through the complexities of the appeals procedure.
Our firm, with a proven track record, has assisted numerous clients who received CP notices, addressing a wide range of audit-related issues.