It’s no secret that the IRS has a vested interest in ensuring compliance with the tax code. For many taxpayers, this means filing an accurate and timely return each year. But for others, it can mean something much worse: an audit. If you’re worried about receiving a notice from the IRS that you will be audited, there is a way out!
What Is An Audit?
An audit is the IRS’ process of reviewing a taxpayer’s return for accuracy and compliance with the Internal Revenue Code. The IRS reviews your records, along with any other documentation you provide in support of your filing status or deductions to ensure that there is sufficient evidence to substantiate what has been reported on the tax form and no errors have been made.
Why An Audit?
The IRS may impose audits on some taxpayers who are suspected of inaccurate or fraudulent reporting. You may also be audited by the IRS because of unfiled tax returns. And not because your return is late, but because the IRS believes it contains mistakes.
If the IRS does not find any errors, they will issue a closing letter to confirm audit results and allow for a full refund on taxes paid during that year’s filing period. However, if an audit determines there is insufficient supporting evidence or an error has been made, you may be responsible for additional tax liabilities and penalties imposed by the IRS.
Procrastinating on filing your tax returns will not only lead to audits but also unbox a world of interest and penalties that will be a burden on you, especially if you have current unpaid back taxes! There’s a relief program that consolidates many major relief programs into a one-size-fits-all assistance program; The IRS Fresh Start Program.
Our clients are referred to our Fresh Start Program in order to avoid bankruptcy, acquire debt relief, and settle their debts in a quick manner. Let us give you a helping hand today!
See if You Qualify for the Fresh Start Program Today!
Resolve your tax debt before the IRS surprises you with late fees and penalties!
- Answer a few questions
- Qualify and be presented with a resolution – click here
- Enroll in Fresh Start
You can click here to be connected with a verified partner of IRS Fresh Start Initiative