An IRS audit is a review of an organization’s or person’s accounts and financial information to assure that all the information reported is accurate and correct. The IRS may decide to audit a taxpayer for one of two reasons. These include:
Random selection and computer screening- According to the IRS, there are instances where returns are selected based on a statistical formula. Your tax return may be compared with that of the “norm.”
Related examinations- The IRS may select your return when it involves issues or transactions with other taxpayers, such as business partners or investors whose returns may have also been selected for audit.
If your return is selected, an auditor will receive it and if they accept it, you shouldn’t have any problems, however, if there is something that stands out as a red flag, they will identify what it is and forward your return to an examining group.
How does the IRS conduct an audit?
If you have been chosen by the IRS to have your return audited, whether it be randomly or for a specific reason, the IRS will notify you by mail, not by telephone. Have you recently received a notice from the IRS stating that your income tax return or business tax return is being audited? Are you concerned because you feel you may have made a mistake? Perhaps you need some clarity as to what the IRS can do in the event you did make a mistake and are now being asked to pay back money you actually owe? If so, hiring a tax attorney in Wisconsin is recommended.
Finding a tax lawyer is simple with USAttorneys.com working by your side. Our site offers you the chance to browse through some of the most respected tax attorneys in the state of Wisconsin who are available to provide you with their legal expertise. You can learn about them by searching through our site or just speak with an agent of ours who will gladly assist you. Finding an attorney isn’t always the easiest as you need someone who is going to dedicate their time to your case. We want to help you find the perfect Wisconsin tax lawyer for the job.
What are your rights as a taxpayer?
In the event you are being audited, it is always important to understand your rights. This is yet another benefit you receive when you hire one of our tax lawyers. They will be sure that you aren’t being taken advantage of and that all of your rights are dually exercised when necessary. Some of your rights are listed below:
- The right to receive professional and courteous treatment from IRS employees.
- The right to have your tax matters kept confidential.
- The right to know why the IRS is requesting information, how the IRS intends on using it and what the consequences might be in the event requested information is not provided.
- You have the right to obtain representation, whether it be by oneself or an authorized representative such as one of our Wisconsin tax lawyers.
- The right to appeal decisions made by the IRS before the courts.
If you are currently dealing with a tax-related issue and need some guidance on what you should do and how to handle it, give us a call now and we will begin working to pair you up with a local tax lawyer immediately.