Top Business Accountant and CPA Keith Huggett, founder of Next Level Accounting & Tax in Roseville, CA, explains key things to watch out for when dealing with a tax audit from the IRS. For more information please visit http://nlati.com
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In a recent interview, leading CPA Keith Huggett, founder of Next Level Accounting & Tax in Roseville, CA, revealed how to deal with a tax audit from the IRS and avoid key mistakes.
For more information please visit http://nlati.com
When asked to comment, Huggett said, “A letter of request from the IRS for an audit is enough to send most people into a panic. An IRS audit needs to be taken seriously, but there are a couple of things you can do to help ensure a smoother audit.”
It’s essential to first identify the type of audit, according to Huggett, to gauge the severity of your case and how you will communicate with tax authorities.
Huggett says… “The three types are correspondence, office, and field audits. Correspondence audits are fairly straightforward, and you’ll need to mail in requested documents into the IRS. However, office and field audits are a bit more complicated and require that you meet with a tax authority.”
Office audits mean that you will need to go to an IRS office, while field audits are more serious and require that an auditor visits you or your accountant’s place of employment.
Knowing the type of audit will better prepare you for your meeting with the auditor.
“You can easily find guides online for the type of audit requested, which will tell you the types of questions that will be asked during an audit meeting. If you’re well prepared for the session, then you’ll be making the auditor’s job easier and a good first impression, which can go a long way.” Huggett said
Another tip that Huggett suggested is to be thorough with the auditor.
When asked to elaborate, he commented, “Make sure to establish clear deadlines and seek clarifications on details of your case that you might not understand such as possible penalties. Showing that you are willing and eager to collaborate should make for a better working relationship.”
Huggett also added, “One of the best ways to deal with an audit is to be open to asking for outside help, particularly as tax professionals know the ropes and could meet with the auditor on behalf of the person being audited. This can be an extremely effective strategy and one that usually ends in a better outcome for the client than if they tried to represent themselves.”
“If you feel as if your case is too complicated or you simply don’t want to handle the audit by yourself, then the best thing to do is to consult with a tax professional such as an enrolled agent or certified public accountant,” he said.
Source: http://RecommendedExperts.biz
Contact Info:
Name: Keith Hugget
Organization: Next Level Accounting
Address: 983 Reserve Dr, Roseville, CA 95678, USA
Phone: 916-960-9800
For more information, please visit http://nlati.com
Source: MM-REB
Release ID: 409013
