Preparing for a tax audit

April 22, 2014 by Triangle Tax Services

IRS Tax Audit?If you are looking for specialists to help you prepare for an IRS tax audit, either for individual income taxes or business income taxes, the Triangle Tax Services Woodhaven office can help. We have prepared many customers for upcoming audits and will help you get ready for your IRS audit.

When you have been notified of an upcoming IRS audit, either by mail or by telephone, that means a thorough review of your financial accounts and information will be made. The audit will be for either your individual accounts or your business accounts. The audit will ensure that all financial information is being reported correctly when you file income tax.

The first thing to do when you have been chosen to be audited is to stop worrying. An audit notification does not necessarily mean that the IRS suspects there are errors in your previous tax filings and not all audits result in changes. Audit selection is done in a few different ways and you may have been randomly selected by a computer. Or the IRS may have found a discrepancy in documents and they want to verify a document.

Our tax specialists in Woodhaven will help you prepare for whichever type of audit the IRS has indicated it will conduct. Some audits will be carried out through the mail, while other audits take place during an in-person interview, which may be conducted at the taxpayer’s home or office, or at an IRS office. Prior to an IRS tax audit, you will be notified of what documents you need to provide.

After the IRS conducts a tax audit, they will either make no changes, or they will explain any proposed changes to your income tax filings. If you agree with the changes made during the IRS audit, you will sign the examination report and pay any money that is owed as a result of the changes. If you disagree to the changes made during the IRS audit, a further review of the issue can be requested or an appeal can be filed.

Our tax specialists in our Woodhaven office will make sure that all of the taxpayers’ rights are respected during an IRS tax audit. Your rights include being represented either by yourself or by an authorized representative, being treated professionally and courteously by IRS employees, confidentiality regarding tax matters, being told why the IRS is requesting documents, and a right to appeal any decisions resulting from the audit.

Let our tax specialists at the Woodhaven Triangle Tax Services office help you prepare for your upcoming IRS audit. The better prepared you are the smoother the process will be.

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