IRS can burge into businesses when they find or doubt any compliance errors in a business. To make the entity bulletproof the role of organizations like Leading Tax Group becomes paramount.
Business tax audits performed by the IRS exist to confirm reported business income and deductions together with any tax credits filed against tax returns. IRS audits stem from basic correspondence audits processed through mail to elaborate field audits that have IRS agents checking complete financial documentation.
The audit process provides business owners with significant stress and demands significant time commitment, yet receiving correct preparation and working with leading business Tax Attorneys can successfully reduce these burdens.
If you are interested in a tax settlement or if you have received a settlement offer from the IRS, now is the time to call Leading Tax Group. Our tax settlement professionals (whom include former IRS tax attorneys) are always ready to work with you and provide you with the information and representation you need.
800-900-4250
The engagement of an auditing agency becomes necessary for business taxation when specific conditions occur. Businesses can face audits due to incorrect reporting of their income when they fail to report all taxable income while also reporting different numbers than third-party documents such as W-2s and 1099s. Business deductions that are exceptional in size or category, such as business expenses, employee benefits, and charitable contributions, are likely to lead to an audit.
The IRS operates with higher frequency audits on cash-based businesses in retail and restaurant sectors because their reported income is prone to underreporting. Companies that report annual losses continuously over multiple fiscal periods may draw attention from the Internal Revenue Service.
Every business needs to create a careful strategy when confronted with an IRS audit in order to evade penalties as well as legal and financial difficulties. Leading Tax Group has an arsenal of Legal Attorneys who are experts in the IRS laws and can guide the client in that matter.
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Experiencing an IRS business tax audit independently proves to be a complex procedure. The experienced Tax Attorneys at Leading Tax Group step in during this moment. We support businesses through audits by utilizing professionals with IRS experience who work as former IRS attorneys and auditors. Our attorneys take control as your legal guide by establishing direct communication with IRS agents who lead your audit through all its stages.
Through our expertise, we will help prepare your records for examination while creating appropriate responses to IRS inquiries to find effective solutions for resolving any reported discrepancies. Working with Leading Tax Group ensures customers receive the necessary IRS audit expertise that leads to positive resolution of their business tax audit.
Headquartered in Encino, California with multiple local branch offices in your backyard to serve you at your convenience. Leading Tax Group can schedule a face to face consultation to represent your case with the IRS, FTB, EDD, as well as CDTFA Audits.
A business can include tax attorneys in a business audit as early as possible. The expert guidance of the Tax Attorneys will allow a business to follow the compliance standard of the IRS.
The IRS can generally go up to three years back in case of a tax audit. However, with proof of major discrepancies, it can go back up to six years.
No, a business audit doesn’t mean a venture has made any violation. However, it’s the responsibility of the company to come clean and disprove any allegations that have been registered against the business.
An audit’s length is dependent on how large is the finances of the business and how well the venture is working with the IRS. It usually takes longer than the personal audit of the IRS.
info@LeadingTaxGroup.com
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800-900-4250