Audit Representation
Audit Representation refers to the professional support provided to taxpayers during a tax audit. The process involves:
- Reviewing Financial Records: The tax authority examines your financial statements, tax returns, and supporting documents to verify their accuracy.
- Requesting Additional Information: Auditors may request further documentation or clarification to resolve discrepancies.
- Assessing Tax Liability: Based on their findings, auditors determine if additional taxes are owed, or if there are discrepancies that need correction.
How We Provide Audit Representation:
Initial Assessment:
Review Audit Notice: We start by examining the audit notice and understanding the scope and nature of the audit.
Evaluate Documentation: Assess your financial records, tax returns, and any requested documents to ensure they are accurate and complete.
Communication with Tax Authorities:
Act as Your Liaison: We handle all communications with the IRS or state tax authorities on your behalf, ensuring that all requests are met and questions are answered.
Negotiate and Clarify: We work to address any issues or discrepancies identified by the auditors, negotiating resolutions and providing necessary clarifications.
Documentation and Evidence:
Organize Records: Gather and organize all required documentation and evidence to support your tax returns and defend against any claims of inaccuracies.
Prepare Responses: Draft and submit comprehensive responses to any audit-related inquiries or requests for additional information.
Resolution and Follow-Up:
Review Findings: Once the audit is complete, we review the findings and work to resolve any discrepancies or disputes.
Appeal if Necessary: If the audit results in an unfavorable outcome, we assist with filing appeals or seeking further resolution.
Preventive Measures:
Identify Issues: Post-audit, we help identify any underlying issues that may have triggered the audit and recommend steps to prevent future audits.
Improve Record-Keeping: Offer guidance on improving your record-keeping practices to ensure compliance and accuracy in future tax filings.
Let Federal Tax Law Group Help!
No matter how big or small your tax matter, We have the knowledge and experience to handle your legal needs and to represent you!