As a taxpayer, it is no less than a nightmare to receive a letter from the internal revenue service. Chosen randomly 1% of taxpayers are subject to an audit in order to closely examine the financial information that they provided in their tax returns in Celebrations FL.
You can survive such an ordeal if you were to receive a letter by the Internal Revenue Service by following the important steps that we will be discussing in regards to dealing with a tax audit.
Do not Ignore the Audit
The correct way of dealing with a tax audit is not by putting aside the audit letter and completely ignoring it. Once you receive the letter, write back to the internal revenue service enquiring about the documents that they require; ignoring it can get you into deep trouble.
Getting Your Documents Ready
A tax audit is one of the reasons why keeping documents safe is emphasized so much. You can tackle any audit easily if you have your documents in place to prepare the tax returns in Celebrations FL.
If you kept all your documents safely with you than all you need to do is to organize them for the tax auditors to check.
On the other hand if you have been unable to keep your documents safe than you need to get a copy of the missing documents i.e. your income statement from your employer.
Getting in touch with Your Tax Preparation Service
Prior to writing back to the Internal Revenue Service, it is important that you get in touch with your tax preparation service that you have consulted for preparing your taxes. After all, they are professionals i.e. CPA, Tax attorneys etc who are experienced in dealing with such situations.
They know about all the critical and legal aspects of your case that might become an issue in the tax audit. They prepared your tax returns in Celebration FL and would be able to guide you out of it using their vast knowledge of tax laws.
Choosing Your Words
More often than not a tax audit issue can be resolved through mail, but on occasions you may need to meet the audit officer.
It is important for you to stay calm and professional while making sure that you do not keep the audit officer waiting as this meeting is a crucial one for you.
Asking your tax preparer to represent you in the tax audit would be a good idea as you might not know what you are supposed to say. You might end up narrating long stories to the audit officer instead of being precise and relevant and thus waste your own and his valuable time.
Paying what you owe
You should not worry even if the audit ends up proving that you owe more than what was mentioned. You can ask the authorities to pay in installments and in case you are not satisfied with the audit’s outcome, you can appeal for a rechecking in the U.S Tax court.
If you need more information about our Celebration, FL accounting and tax services, please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, Hunters Creek, Lake Nona, Celebration, Winter Park, Windermere, Dr. Phillips, Maitland, Altamonte Springs, Winter Garden, Ocoee, Apopka, Belle Isle, Edgewood, and Oakland FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin number, incorporations, and non profit 501c3 tax exempt.