If your business has been selected for an IRS audit, the accountants and bookkeepers at Mesquite Bookkeeping can successfully guide you through the audit process. Although being selected for audit does not necessarily mean that there has been an error on a tax return, successfully substantiating the items identified for examination is a very important task. Our professionals have had extensive experience at doing just that and can help your business achieve the most favorable audit outcome possible.
Although there are three types of audits, businesses are usually selected for either an Office Audit, where the audit is done in the auditor’s office, or a Field Audit, where the auditor comes to the taxpayer’s place of business. In either case, the basic elements of the audit process are similar. These components, together with some of the reasons for enlisting the services of an experienced professional to assist with audit defense, are outlined below:
- An experienced professional will know what documentation is required to substantiate the items identified in the audit request. This is an important service since providing this documentation within a specified time period is the legal responsibility of the business being audited.
- An experienced professional will know how the tax code applies to those items identified for further scrutiny by the audit request.
- An experienced professional will have experience communicating effectively with the IRS. They will know how to answer the auditor’s questions without providing extraneous information that might actually damage the audit defense.
- An experienced professional will know to evaluate the final audit report and will suggest submitting an appeal to the IRS Appeals Division if they disagree with the auditor’s conclusions.
The accountants and bookkeepers at Mesquite Bookkeeping have helped many business clients successfully resolve the issues which prompted their selection for an IRS audit. In addition, since our firm has the advantage of CPA oversight, we can negotiate directly with the IRS on behalf of your company during the audit process. While, on the one hand, an audit can result in a return being accepted as it was originally submitted, a poorly conducted audit can result in a significant additional assessment.
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