Expert Guidance
Allows you to pay your debt in manageable monthly payments over a period of time. The IRS will offer several types of installment agreements based on your financial situation.
Facing an IRS or state audit can be an intimidating and overwhelming experience for anyone. If the audit doesn't end favorably, you can be hit with hefty penalties, even more tax liability, and there can even be legal repercussions.
Audit representation, where a tax expert represents you during the audit process, ensures that your rights are protected and that you are treated fairly. Understanding the audit process, the role of representation, and why TAA is the ideal partner can help you confidently navigate this challenging situation.
Audit representation involves a tax professional acting on behalf of the taxpayer during the audit process. This ensures that the taxpayer’s interests are prioritized and their rights upheld. Key benefits of audit representation include:
Allows you to pay your debt in manageable monthly payments over a period of time. The IRS will offer several types of installment agreements based on your financial situation.
Tax professionals handle all communications with tax authorities, ensuring that responses are accurate and timely.
Representatives help prevent taxpayers from inadvertently providing information that could complicate the audit or increase liabilities.
Status is granted when your financial situation is such that paying your tax debt would cause significant hardship, leading the IRS to suspend collection efforts.
With a qualified representative managing the process, taxpayers can avoid the anxiety of direct interactions with tax authorities.
Tax authorities carry out audits to verify the accuracy of a taxpayer's returns and ensure compliance with tax laws. The IRS and state tax agencies may randomly initiate an audit, often prompted by discrepancies, errors, or red flags such as excessive deductions, unreported income, or unusually high business expenses.
Navigating an audit without professional representation can be fraught with challenges, such as:
Tax laws and regulations are intricate and ever-changing, making it difficult for the average person to understand their obligations fully.
Without experience, you may inadvertently provide incomplete or misleading information, leading to unfavorable outcomes.
Resolving tax debt can take months or even years, depending on the complexity of the case and the responsiveness of the tax agency.
Tax authorities may use tactics that can make you feel pressured, increasing the likelihood of errors or concessions that are not in their best interest.