CTR’s new audit program will help clients understand why they have been audited.
Norwalk, VA (PRWEB) January 24, 2013
CTR’s Norwalk tax attorney is happy to announce a new IRS audit defense service. CTR has provided tax debt relief services for thousands of taxpayers and is expanding their services to include assistance for Virginia taxpayers who are being audited by the IRS. With services as personalized as a local tax professional, CTR will work with clients to obtain all the financial records necessary for the IRS investigation.
The IRS requires taxpayers who are being audited to present three years worth of tax returns and records. This means that taxpayers need to hold on to checkbook stubs, receipts, records of taxable investments and property purchases, bills and keep track of deductible items.
CTR’s new audit program will help clients understand why they have been audited. There are certain taxpayers the IRS will choose to audit. Certain red flags that will cause the IRS to be more likely to initiate an audit include:
- Incorrectly filed tax returns or W-2s
- Large amounts of itemized deductions
- Losses reported for a tax-shelter
- Taxpayers with prior tax problems or audits
- Business or Investment transactions that are very complex
- Large donations to charities resulting in deductions
- Excessive business expenses
In addition, if a Plano tax attorney were to falsify tax documents for clients to secure a larger tax refund and was caught by the IRS, every client of the criminal tax preparer would be audited. These scenarios are more likely to incur an audit by the IRS, but there are also randomly selected audits of taxpayers. This means that taxpayers should always be prepared for an IRS audit, even if the likelihood seems remote.
When an IRS sends notice of a levy, it can be a very stressful time for a taxpayer. CTR’s team of tax professionals help taxpayers during the audit by communicating to the IRS. One client in California hired a Stockton tax attorney working with CTR and submitted IRS Form 2848. Immediately all correspondence from the IRS went to the CTR negotiator and tax team. The client was able to settle their audit situation with the help of CTR’s team.
The Laredo tax attorneys at CTR will also help their clients remain compliant after an IRS audit is successfully resolved. The federal government will audit the same individuals or businesses, especially if there was a discrepancy found on the income tax return. High income taxpayers are also susceptible to audits and should take steps to remain compliant with the tax code.
CTR offers tax debt resolution and tax services for individuals and businesses across the United States. The company uses a three step program to create personalized strategies to help taxpayers settle their IRS debt. The company offers many services, including: state and federal tax debt resolution, IRS audit defense, tax preparation and bookkeeping.