Accounting News and Notes

Atlanta/Lawrenceville/Snellville CPA on Surviving an IRS Audit of Your Business & Personal Income Taxes

If you just opened your mailbox and much to your chagrin you have received an IRS notice. Your immediate reaction is one of fear and dread as your pulse races and you are not certain of what to do next. Although most certainly your initial reaction will be as described, there is a different path to resolving all audit issues to yours and the IRS’s satisfaction and to close your audit with no additional monies due, assuming of course your return has been properly prepared. Below is a sample letter we might receive from a taxpayer in the throes of addressing an IRS tax audit:

I’m looking for someone to help me with my 2008 & 2009 Business and Personal income tax returns that were audited and we ended up owing the IRS over $45K. If you would agree to take a look at my tax returns and to see if you could help address this IRS tax audit. Any help you can give would be greatly appreciated or maybe even if you can recommend someone in this area if you don’t serve this area.  Thanks and God’s Blessings,

Below is my response:

A successful audit process will include many factors and variables consisting of, first and foremost, calling your CPA first. Your tax adviser is the absolute best one to address your audit and to better represent you and your business’s issues to the IRS using both the law and knowledge of your business to your best advantage. The first step to address after a return is selected for audit, aside from calling your CPA, is to review the return in detail. Try to evaluate, from an independent perspective, your return, carefully evaluating what an IRS agent might be seeking most to review. After you have done this initial step you should then evaluate your documentation to see if you might need to accumulate any additional information to collaborate and support your return. During this process you should not discover anything new as all of these issues should have been adequately addressed before your return was prepared, signed, and forwarded to the IRS. However this process is critical to ensure that there are no holes in your paperwork, which might later cause you difficulty.

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Serving Lawrenceville/Snellville/Norcross/Roswell as an Award Winning CPA for Decades

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And this is only some of the information available on our web site. You also have at our blog a host of other varied and timely tax and business management issues you can use. 

John Dillard, CPA of His CPA, PC (An Atlanta Christian CPA firm) 1940 Woods River Lane, Duluth, GA 30097  Phone 770-814-9304   http://www.hiscpa.com/    http://www.john-dillard.com/ To retain John Dillard CPA (An Atlanta Christian Speaker/Author) for your business group or church congregation, you can contact him today at 770.814.9304 

Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it! 

We advise clients on: IRS representation, Offer in Compromise, Tax Problems, Incorporation in Georgia, Corporate and Personal Income Tax Returns, Part-time CFO, Virtual Controller, Business Planning, Offer in Compromise, Back Taxes, Business Acquisitions/Sales, Forensic Accounting, Business Valuations and Bookkeeping.

Related posts:

1. Lawrenceville/Snellville/Buford CPA on IRS Installment Plans/Back Taxes/Offer in Compromise
2. Atlanta/Alpharetta/Norcross CPA Teaches Atlanta Taxpayers How to Address Unpaid Income Taxes/Back Taxes
3. Alpharetta/Lawrenceville/Suwanee CPA Helps Taxpayers Understand Tax Penalty Assessment and the IRS Statute of Limitations on Collection of Unpaid Taxes… The IRS/Tax Representation Series
4. Atlanta CPA Teaches on How to Handle IRS Back Taxes During IRS Tax Audits
5. Atlanta CPA Provides IRS Audit/Back Taxes Consultations & Advice

This entry was posted on Tuesday, March 23rd, 2010 at 10:29 am and is filed under Atlanta IRS Tax Audit, Lien, Levies & Garnishment, Atlanta IRS Tax Problems & Offer in Compromise, Atlanta/Gwinnett IRS Representation/Statute of Limitations.
Tags: Atlanta IRS Tax Audit, Atlanta/Gwinnett CPA, Christian CPA, Duluth/Gwinnett CPA, Lawrenceville CPA, Roswell CPA, Snellville CPA. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.