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RONALD
MARK
SEMARIA,
CFE,
DABFE, FACFEI,CSC, CHS-III |
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www.DRFRAUD.com
www.IRSAUDIT.com www.SEMARIA.com |
BUS:
718-531-1105 |
OUTSIDE NYS |
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1408 EAST 66 STREET BROOKLYN, NY 11234 |
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IRS-TAX AUDITS-CORRESPONDENCE AUDITS This type of audit is the least threatening. You’ll probably never see an
IRS employee; it will all be handled through the mail. Such exams are
typically limited to a few issues that you can clear up by mailing copies of
bills, checks, receipts or other relevant documents. The only way an auditor can bet more information is to send you a letter
asking for additional documents. Because you aren’t face to face with the
IRS staff, you avoid the possibility of giving embarrassing answers or even
volunteering information that might invite further exploration of your
return. To start the audit process, the IRS will send you a "contact letter" that
spells out what the agency requires from you and the reasons you’ve been
picked. These are the only items you must support with documents to avoid
paying additional tax. The letter also will tell you how long you have to respond, usually 30
days, before the IRS simply adjusts the tax in its favor (this means
disallowing the items in question if deductions or adding to your income if
the items in question are income items). A correspondence audit doesn’t mean you’ll automatically have to pay more
taxes. Many audited returns result in no change. Sometimes, taxpayers may
even get money back when they realize they overlooked deductions. |
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The following articles are for
informational purposes only, and your should always consult with your tax
advisor to determine the tax implications for your particular financial situation.
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