- Overview: Learn about IRS audits.
- Problems: Understand the problems associated with IRS audits.
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Solutions: The W.L. Henry law firm’s goal is to minimize your exposure during an IRS audit. Find out how the firm can help.
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Schedule an Appointment: Schedule a free consultation with a tax lawyer. Colorado office locations are conveniently located in Castle Rock and Colorado Springs. We offer a free phone consultation if you reside outside the Denver or Colorado Springs metro area or in another state or country.
Overview
A tax audit is often the first step in changing the amount of taxes you owe. In 2007, the IRS audits of individuals increased by 7% from 2006—reaching the highest number of audits since 1998.
Flags for an IRS audit can include returns that may have an incorrect amount based on informational returns filed with the IRS. Other sources of flags for IRS audits are public information such as newspapers, public records, and individuals. Audits can be random as well.
IRS tax audits can be conducted by mail or in person; you can be represented by an attorney regardless of how the IRS proceeds. If the IRS employee proposes an increase to your tax liability, most taxpayers will have 30 days to appeal the decision to an administrative appeals officer. If you fail to respond to the 30-day letter, or if you cannot reach an agreement with the appeals officer, the IRS will send you a letter of deficiency. Most taxpayers will have 90 days to petition with the tax court. If the tax court makes an adverse determination or you do not petition the tax court within the requisite 90 day period, the IRS can assess the tax and begin collections.
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Problems
Tax audits are often the first step in a protracted fight with the IRS, so it is curial that your interests are represented from the beginning.
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Solutions
By understanding what IRS disclosure requests are proper during an audit, a tax lawyer can properly protect a taxpayer’s interest. Only those disclosures required by law should be made and collateral information should not be discussed unless properly sought by the IRS.
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Schedule an Appointment
Schedule a free consultation to discuss your case with a tax lawyer. Colorado office locations are conveniently located in Castle Rock and Colorado Springs. If you are out-of-state or out-of-country, a telephone conference can be scheduled. All initial consultations by phone or in one of our Colorado offices are free.
Even if you are not sure if you need a tax lawyer, the firm is happy to discuss your tax issues and point you in the right direction.
Schedule a free consultation:
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