• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

MW Group LLC

Our business is helping yours

  • Home
  • About
  • Services
    • Growth Planning
    • Taxes
    • Accounting
  • News and Resources
  • Contact
  • Client Portal
Home > Tax > Never Take on an IRS Tax Audit Alone

Michelle Ward / July 20, 2019

Never Take on an IRS Tax Audit Alone

Sleuthing your way through an IRS tax audit by yourself is not the same as fixing a leaky faucet or changing your oil. Here are reasons you should seek professional help as soon as you receive a letter from the IRS:

  • IRS auditors do this for a living — you don’t. Seasoned IRS agents have seen your situation many times and know the rules better than you. Even worse, they are under no obligation to teach you the rules. Just like a defendant needs the help of a lawyer in court, you need someone in your corner that knows your rights and understands the correct tax code to apply in correspondence with the IRS.
  • Insufficient records will cost you. When selected for an audit, the IRS will typically make a written request for specific documents they want to see. The list may include receipts, bills, legal documents, loan agreements and other records. If you are missing something from the list, things get dicey. It may be possible to reconstruct some of your records, but you might have to rely on a good explanation to avoid additional taxes plus a possible 20 percent negligence penalty.
  • Too much information can add audit risk. While most audits are limited in scope, the IRS agent has the authority to increase that scope based on what they find in their original analysis. That means that if they find a document or hear something you say that sounds suspicious, they can extend the audit to additional areas. Being prepared with the proper support and concise, smart answers to their questions is the best approach to limiting further audit risk.
  • Missing an audit deadline can lead to trouble. When you receive the original audit request, it will include a response deadline (typically 30 days). If you miss the deadline, the IRS will change your tax return using their interpretation of findings, not yours. This typically means assessing new taxes, interest and penalties. If you wish your point of view to be heard — get help right away to prepare a plan and manage the IRS deadlines.
  • Relying on an expert gives you peace of mind. Tax audits are never fun, but they don’t have to be pull-your-hair-out stressful. Together, we can map out a plan and take it step-by-step to ensure the best possible outcome. You’ll rest easy knowing your audit situation is being handled by someone with the proper expertise that also has your best interests in mind.

Filed Under: Tax

Primary Sidebar

Get To Know Us

 

Free Consultation

Categories

  • Accounting
  • Business Issues
  • Our Story
  • Payroll
  • Tax

Where’s My Refund

Find out the status of your tax refund on these government tax sites.

  • My IRS Refund Status
  • My PA Refund Status

Get Our Advice in Your Inbox

Get organized with our income and expense spreadsheet template.

We never share your info.

We completely trust and rely on Shawn Cahill – for his expertise, his diligence, and his thoroughness

Matthew M.

Professional and forward thinking make the MW Group a good solution if looking for a new tax advisor Group.

Mike D.

Footer

Pottstown CPA firm specializing in growth planning, tax return preparation, and accounting.

MW Group, LLC

2500 E. High Street
Pottstown, PA 19464
[email protected]
+1 610 708 5700
  • Rss Feed
  • Facebook
  • Twitter
  • LinkedIn
  • Google Maps

Any advice contained in this website is not intended or written to be used for purposes of avoiding tax penalties that may be imposed on any taxpayer.

Copyright © 2014–2023 MW Group LLC · Privacy Policy · Site Design by Delos Incorporated