An IRS audit is a review/examination of an organization’s or individual’s accounts and financial information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct.
What does it mean when someone is audited?
An IRS audit is an examination or review of your information and accounts to ensure you’re reporting things correctly and following the tax laws. In other words, the IRS is simply double-checking your numbers to make sure you don’t have any discrepancies in your return. Sometimes state tax authorities do audits, too.
Can a client be audited by the IRS?
Clients whose returns stray far away from the norm or have “large, unusual or questionable items” can always be singled out for audit. But overall, as the statistics bear out, the IRS likes to audit clients with certain characteristics.
Why are I being selected for an IRS audit?
An IRS audit is a review/examination of an organization’s or individual’s accounts and financial information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct. Why am I being selected for an audit? How am I notified?
Can you request a face to face audit from the IRS?
If you have too many books or records to mail, you can request a face-to-face audit. The IRS will provide contact information and instructions in the letter you receive. Depending on the issues in your audit, IRS examiners may use one of these Audit Techniques Guides to assist them.
How long does it take to resolve an IRS audit?
The length of time it takes to resolve an audit ranges depending on the complexity of the audit, the type of information requested, and the availability for meetings of both the client under audit and the IRS or state tax agency. When you discover your client is under audit, it’s important to determine how far into the audit cycle the client is.
