IRS Tax Audit Representation
KM Accountant specializes in IRS audit representation. Our Charlotte based tax experts and enrolled agent will help you respond to IRS audit requirements. The Charlotte team has IRS enrolled agent that can represent your case with the IRS and help you increase your odds of a better outcome.
Types of IRS Tax Audit
This is the most common type of tax audit. IRS requires that you mail supporting documentation related to your tax return. Typical triggers are stock transactions, sale or purchase of real estate and specific itemized deductions.
Office IRS Tax Audit
The office audit is a meeting set up with the IRS. Mainly in these types of audits the auditors will examine significant items on your tax return. It is good to consult with a tax professional such as a CPA, Enrolled Agent or Tax Attorney in charlotte to get some advice so you say the correct things and give proper support.
Field or Home IRS Tax Audit
These are typically the most serious types of audits, IRS comes to your home or business in charlotte for an audit. If you receive one of these audits, most likely you have earned well over 100K in your business or self employment. It is highly suggested that you hire a tax professional to help with the audit.
What to expect in an IRS Tax Audit
During Audit IRS determines if you have properly reported all income, expenses and took the correct deductions and credits.
It is your responsibility to prove to the IRS that what you filed was indeed correct and you must provide supporting documents for the majority of it.
The IRS will make a determination if you did the proper reporting or not and if not they will assess additional taxes.
Audit Representation in Charlotte
A quick fact is that the IRS actually wins over 80% of all audits, mainly because the taxpayers cannot show proper supporting documents. It is because of bad record keeping, not because of tax payers trying to cheat the system. KM Accountant’s expert tax professionals can help you organize your books, present correct documents to the IRS auditors and increase your odds of a favorable outcome.