Who does not fear an IRS audit? We all fear the face to face, unpredictable interaction with the Internal Revenue Service’s agent. An audit is the process in which IRS examines your tax returns and determines if you have properly reported all income or not and took the correct deductions, while following the Tax Code. Now, it is your responsibility to prove with the supporting documents that what you filed was correct to the IRS. The IRS selects returns for audit that have the greatest potential for additional tax to be collected.
If your income tax return has been selected for an audit, then, you are bit concerned. But, it doesn’t mean that it is the time for panic. Sometimes, IRS wants some missing documents from you, which is the only reason for the audit.
There are different types of audits:
- Correspondence audit.
- Office audit.
- IRS Field audit.
Correspondence audits: The correspondence audit comes if there are any missing document in your tax return. These audits often include W-2’s and 1099 income items.
Office audits: These audits are performed with a Tax examiner who will request various documents and explanations of deductions. The notice of an office audit arrives by mail.
IRS field audits: IRS field audits are so called because they are done “out in the field” as opposed to IRS office. These audits are conducted at the taxpayer’s home, business place or accountant’s office.
So, you are under IRS audit now. It is not a good idea to handle audits on your own because you might not be aware of the things that IRS wants to examine. In such a situation, you need expert’s guidance which will take you to the better audit result.
Dan Harris Inc. is the name of one such firm who provides professional Audit Representation Los Angeles, Orange County and Ventura County. Their income tax services include:
- Tax return preparation
- IRS tax resolution
- Offer in compromise
- Tax lien matters
- Individual and business tax planning
- Individual and business tax credits
- Small business health insurance tax credit
- Business entity formation: corporation, partnership, LLC
So, get ready for tax professionals help and solve all your tax problems.