IRS Audit
An IRS audit is a review or examination of
an organization or individual's accounts and financial information
to ensure that it is being reported accurately according to the
tax laws.
A business or individual can be selected for an
IRS audit randomly, when documents do not match (such as a W-2 or
1099) or related examinations (a business partner or investor was
audited and then the IRS audits you.) When you are chosen
for an IRS audit you will be notified via mail or by phone.
If you are selected for an audit you have the
following rights as a taxpayer.
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To be treated professionally and
courteously by the IRS employees.
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To know why the IRS is requesting
information, how the IRS will use your information and what
will happen if you provide it.
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You have the right to representation by
oneself or an authorized representative.
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You can appeal disagreements, with the IRS
or through the court system.
An IRS audit can be concluded in one of three
ways: 1. No change- everything was substantiated and
accurate 2. Agreed- you agree to the IRS proposed changes
3. Disagreed- you disagree with the proposed changes and
then setup a conference with a manager to further review your
case.
If you are facing an IRS audit, it is best not
to go into it without professional help!
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