Tax Audit Representation is provided to businesses and individuals during an audit by taxing authority. The audits question the accuracy and validity of income, expenses, credits, and deductions reported, and inaccurate reporting can lead to garnishments, liens, levies, and even foreclosures and closed businesses.
A list of records the IRS may request may be found here.Â
Generally if the IRS does not identify a substantial error, then the IRS can audit tax returns filed in the last three years and the States can typically audit four years. Audits can be complex, time-consuming, and stressful. Having a professional and expert team is highly recommended, even if you feel confident in your ability to handle the process.
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CPA CLINICS’ Tax Audit Representation services alleviate the burden by providing expert guidance and support during the Federal, State, or Local audit. Our services include:
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- Expertise: Do you understand why you are being audited? Audits require an understanding of accounting principles, tax regulations, and audit procedures. Our team has the necessary expertise to assist you with not just the reason for being audited but also assist you to navigate the audit process effectively.
- Compliance: Do you have time to compile and review all the paperwork by yourself? Tax Audit Representation services help ensure that your financial statements and records are accurate, complete, and in compliance with the required standards.
- Risk mitigation: Do you know what you should or should not say? An adverse audit result can have a significant financial and reputational impact; therefore, engaging experienced Tax Audit Representation services mitigate the risk of errors, omissions, or misinterpretations.
- Communication: Do you have time to take away from work? Our team handles all communication with the auditors, ensuring that your rights are protected.
- Resolution of issues: We provide guidance on the best course of action and help minimize any potential penalties or liabilities.
