Two of the most dreaded words in the English language are “tax audit.” This conjures up images of a pencil pusher going over your books with a fine-tooth comb looking for any and all issues. They worry that the smallest problem could result in thousands of dollars in fines, penalties, and interest. While the actual experience generally isn’t quite as bad as this, it is certainly not a fun experience. An experienced tax lawyer can assist with your audit or, even better, accurately prepare your returns to help prevent an audit in the first place.
The most common type of audit is a correspondence audit. In this type of audit, the IRS will send a notice to a taxpayer or business owner seeking some sort of clarification. For example, they may need receipts for a particular deduction. If the taxpayer has these documents, they can send them directly to the IRS to clear up the issue. In this case, the taxpayer might be able to handle the issue on their own. If a taxpayer doesn’t have these documents, however, they should speak to a tax lawyer about their issue.
The second type of audit is an office audit. This type almost always requires a tax lawyer or an accountant to help assemble documentation. These are serious, but they are generally finished in one day. If you don’t have certain information, you will have to supply it as soon as possible.
A field audit is the most serious type of audit. A field audit always requires the help of an experienced professional. During a field audit, the IRS is looking for whatever they can find. Generally this means they suspect some type of fraud and they are looking to hammer the taxpayer. These audits are rare, but when they do occur, they are extremely serious. Do not try to handle this without experienced, professional help.
At Burkhalter & Burkhalter, we have experience with all types of audits to ensure that they are handled as smoothly as possible. But as said previously, the best way to handle an audit is to try to prevent one in the first place. For help with your taxes, contact a tax lawyer at Burkhalter & Burkhalter for a free consultation. We have helped clients across Maryville and throughout Tennessee with their filings.