The prospect of a tax audit can be fear-inducing. Even if you are diligent about filing your taxes accurately, small errors or omissions might come back to haunt you. The tax attorneys at The Bronson Law Firm PC in Plano, TX, know comprehensive preparation is the key to mitigating negative effects from audits. They will answer your questions and help you get ready to face the Internal Revenue Service.
A Tax Attorney Answers 3 Questions About Preparing For An Audit
What Documentation Will I Need?
While documentation can be different for each client, there are a few items the IRS typically will request during an audit. This may include tax returns from the past several years, bank and other financial statements, income statements, and receipts for tax deductions. When providing documents, organize them by year or type to facilitate the audit process.
Should I Meet With An Auditor On My Own?
It’s recommended that you have your tax attorney present for discussions with an auditor. Even seemingly innocent statements may hurt your case, and an attorney will keep you from offering information you’re not obligated to disclose.
How Will A Tax Attorney Help Me Prepare?
A dry run of the impending audit is a great way to ensure your financial documentation is in order. A tax attorney will go over your records in detail, looking for the same discrepancies the IRS will seek. This process will let you address concerns before the audit begins.
Whether you require assistance with a sales tax audit for your business or need help with a personal tax issue, The Bronson Law Firm PC offers more than 28 years of experience to clients in Northern Texas. To schedule a consultation with a tax attorney, call (972) 770-2660.