When you receive notice of an IRS audit on your individual or business tax return, you might picture having to sit across the table from a grim-faced auditor as he or she goes through your financial records with a fine-toothed comb. However, this face-to-face audit scenario isn’t always necessary. These days, many tax audits are dealt with via correspondence. You’ll receive a request for clarification or further information from the IRS, and you’ll reply with the documentation needed to resolve your situation. Correspondence audits are ideal for handling minor discrepancies, such as calculation errors and missing paperwork.
The more demanding face-to-face audits are often reserved for extreme cases, such as taxpayers who are seriously delinquent or who are self-employed but boast a very high income. In these instances, the auditor will set a date to meet in person and go through your records in order to ensure accuracy and compliance.
Both face-to-face and correspondence audits benefit from the attention of a knowledgeable tax resolution professional, but it’s especially important to hire a specialist to speak on your behalf during a face-to-face audit. In and around Cincinnati, Taxation Solutions, Inc. is standing by to guide you through your audit proceedings. Whether you simply need to file one additional form or you’re in for a major examination by the IRS, we’ll help you come through with the best possible outcome. Call now!