Factors That Trigger an IRS Audit #infographic

Factors That Trigger an IRS Audit #infographic

You might feel like a brave person caught up in terror. You then receive an official letter notifying you of an IRS audit of your income taxes and, for fear of doing so, you have a new respect.

An IRS tax audit will take place for a variety of reasons. You may have made an mistake in baseline data entry, or you may have skipped a big form return. That sort of audit is simple, and not all that scary.

However, for other cases, the IRS may look for information about your income and tax situation, leaving you in danger of paying a much larger tax bill with late payment penalty.
In this extremely fearsome circumstance a tax solicitor will support. The counsel has the right to negotiate on your behalf with the IRS when it helps you prepare a case against financial responsibility and any potential compliance action.

If the audit is not going your way, a tax lawyer will be endorsing an appeal decision.

Call David W. Klasing Tax Law Offices to arrange a 10-minute call with an experienced fiscal attorney to discuss a potential IRS audit.
Typically and generally, an audit may look back on previous three years' tax returns. While it sounds like a large window for the IRS for three years, the audit period can only extend. Of example, if there is a significant mistake or some serious mistake, the length of the audit can be extended to a period of 6 years. Where the taxpayer has failed to file or incur charges of wrongdoing or if the auditor finds proof of fraud, the length of the audit period is legally indefinite. This is, for each fiscal year the auditor must look back on and assess the revenue.

Factors That Trigger an IRS Audit #infographic

infographic by: klasing-associates.com

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