Factors That Trigger an IRS Audit #infographic

Factors That Trigger an IRS Audit #infographic

You may feel like you're a brave person gripped with terror. You then receive an official letter notifying you of an IRS audit of your income taxes and you have a new respect for fear of doing so.

An IRS tax audit may occur for a variety of reasons. You may have made a basic data entry error, or you may have missed the return on a major type. That kind of audit is easy, and not all that frightening.

For other cases, though, the IRS might be looking for information on your income and tax situation, leaving you for danger of paying a much bigger tax bill with late payment penalty.

A tax solicitor will help in this extremely fearsome situation. The counsel is entitled to negotiate with the IRS on your behalf when helping you to prepare a case against financial responsibility and any potential compliance action.

When the audit will not go your way, an appeal decision would be supported by a tax lawyer.

Call David W. Klasing Tax Law Offices to arrange a 10-minute call to discuss a potential IRS audit with an experienced tax attorney.

Usually and commonly, an audit will look back on the tax returns of the previous three years. Though for three years it sounds like a wide window for the IRS, the audit period will only extend. Of example, if there is a major mistake or other serious error, the audit duration can be extended to a maximum of 6 years. Where the taxpayer has failed to file or misconduct charges are made or the auditor finds proof of fraud, the length of the audit period is legally indefinite. That is, the auditor will look back for and calculate tax for each fiscal year.

Factors That Trigger an IRS Audit #infographic

infographic by: klasing-associates.com

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