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During a compliance check, the IRS may inform you by mail that you have been selected for an audit. The initial letter typically states the year(s) they are auditing, the items in question and the tax return(s) they wish to examine, as well as a deadline to start the proceedings. The IRS field audit brings the IRS to your business site, home or office, while a desk audit is typically done at the local IRS office. Usually, time is not on your side, so you should Call Leading tax Group as soon as possible.

If you go through the audit process and feel that the IRS has treated you unfairly, disregarded your proof, or made a decision without giving you an opportunity to present your proof, then the Audit Reconsideration could be the right option for you. Contact Leading Tax Group to evaluate your options. Remember, the IRS audit period can be up to 3 tax years and the audit proceeding can take months to close.

The IRS may question your calculations or ask for proof of your expenses or declared write offs on the return(s) in question. They will give you a timed window of opportunity to respond to their requests before a determination/assessment is made. The entire process can take several months to complete. Knowing specifically what the IRS wants/accepts as proof can be tricky. Call Leading tax Group to discuss the process.

Typically, IRS audits can take several months to wrap up. In some cases, it can take up to 2 years to get a final resolution. Hiring a tax professional can often shorten the period, as well as get you a better outcome. Call Leading Tax Group for a consultation.

In certain cases, you can. Keep in mind that the IRS is not a court, so it cannot send you to jail. It can, however, turn your case over to the Justice Department which, in turn, may accuse you of tax evasion. Call Leading Tax Group for more information.

Timeline on retaining diverse tax records varies. However, the statute of limitations for an IRS audit expires after 3 years. It’s a good idea to keep the tax records for 3 years after you’ve filed a return. Call Leading Tax Group if you need more information.

If the IRS visits your home or place of employment, the first thing you should do is obtain their name/contact information. Get as much information as possible about the tax issue they are contacting you about and then call Leading Tax Group for an evaluation on what needs to be done to solve the problem.