Tax Audit Protection – Tax Audit Reconsideration
by admin on 03/05/10 at 7:29 am
Tax Audit Protection – Tax Audit Reconsideration
The idea of getting audited by the IRS can be very scary, so it is important that you know your rights. You should also be knowledgeable about situations that can cause an auditing of your taxes to take place. If you are worried about receiving an audit notice from the IRS or have already received one, you should consider seeking tax audit protection. With the power of a tax attorney, you will have the backing you need to ensure the IRS won’t run over you. There are various ways you can avoid getting audited and there are some red flags you can look out for.
Warning! If you have received a certified letter from the IRS, contact us immediately. If certain steps are not followed, you could lose your rights.
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Who Can Use Tax Audit Protection
The main cases that are brought to the attention of the IRS include the following:
- High income taxpayers
- Investors that are involved in abusive schemes
- High income non-filers
- Unreported income
- Credit card use offshore
Anyone can use IRS audit defense services. If you are constantly being hassled by the IRS or fear being audited, this service is for you.
Tax Audit Reconsideration – Red Flags to Look Out For
Many people think that something as little as a mathematical error can cause the IRS to draw up an audit on an individual, but this isn’t the case. The IRS uses computer software that automatically corrects mathematic mistakes on tax returns. The program is also used to compare your deductions with others in your income bracket. There’s a formula called the DIF score, which is used to select tax returns that have a high probability of generating extra audit revenue. Knowing the deductions you should claim plays a vital role in the taxing process. If you make about $60,000 a year and gave $20,000 worth of contributions to charities (even those this is very uncommon), you should definitely report this. Just make sure you keep all records of these transactions, so that you can have proof for the IRS in the event of being audited. Handling the IRS can be made easier with IRS audit defense. The IRS is very tricky, so it is always wise to seek legal help.
Tax Audit Protection –Interests and Dividends Must Match
If your dividends and interests on your tax return aren’t matching up, you’d better be prepared to receive a letter in the mail from the IRS. For instance, if you are claiming deductions that are exceeding your income, something isn’t right. There is no way a person or household can spend $100,000 a year if they are only making $75,000 annually.
The Self-Employed Can Seek Tax Audit Reconsideration
If there is one person on the IRS’s hit list, it’s the self-employed and those getting paid cash. In these two situations, you aren’t on anyone’s payroll, so your income isn’t automatically getting accounted for. A lot of entrepreneurs and “under-the-table” workers cheat the IRS by only claiming some earnings. If you are in one of these two categories, you should be aware that you are under watch by the IRS.
Whenever you receive a letter from the IRS inviting you to an audit, learn your rights. It’s never too late to obtain tax audit protection from an attorney, so make sure you get the help you need to beat the IRS.
Learn as much as you can about Tax Audit Protection.
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