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Notice of an audit should be taken seriously

On Behalf of | May 27, 2020 | Tax Audits

Virtually no one wants to receive a letter from the IRS. Unfortunately, it can happen to anyone for various reasons, and it is important not to ignore notice of an audit. Even if Atlanta-area residents believe that the IRS made a mistake, making contact with the agency is better than simply thinking the matter will resolve itself. In some cases, it is even necessary to defend against the accusations and assumptions made.

After receiving notice of an audit, it is vital that the recipient go over the letter and information thoroughly. It will detail what type of audit is taking place, what documents are needed and how the IRS agent will be in contact. The letter will also indicate whether the matter is relatively minor or if a serious problem with a return is suspected. This information can help parties determine how much they need to prepare.

When it comes to preparing for an audit, documentation is a must. Not only will the IRS need copies of certain documents, but individuals can also benefit from going over their tax-related information to determine whether any serious errors may have occurred. Going over the information filed against receipts and expense records could help ensure all the information is correct.

Though audits do vary in severity, it can be nerve-wracking for anyone to receive such a notice. In the event that Atlanta residents are facing serious claims from the IRS, it may be worthwhile to be even more proactive in handling the matter by contacting tax attorneys. These legal professionals can explain what type of audit is taking place, what the issue seems to be and how individuals could defend against accusations if necessary.