Federal Tax Audits

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Federal Tax Audit

The term ‘Federal Tax Audit’ can make people very nervous. Most people hear the word, and their anxiety automatically increases. However, a little more understanding about the term and some workings of IRS can make the process exponentially easier. Audits can be of very types. Some can be breezy, while others can be quite taxing. The type of audit can easily help determine the effort required to deal with it.

  1. Correspondence Audit

This is the most common form of a Federal Tax Audit. As the name implies, it is usually carried out through a correspondence. The IRS typically sends a simple letter to an individual or an organization. This letter acts as a reminder that they owe some money in taxes to the IRS. Technically, the letter is merely a form of correspondence. Strictly speaking, it is not an Audit. However, ignoring it can easily devolve into a full-fledged audit.

Note: Get Access to the Best Federal Tax Audit Services Near Me.

Upon receiving such letter, it is imperative that you pay the relevant amount within give deadline. If you feel there has been a mistake, you can argue your case in front of IRS. You can hire a professional Federal Tax Audit expert to argue the case on your behalf.

  1. Audit via Letter

The IRS sends a letter asking for certain documents which support your position on the taxes. This is the most minor form of a Federal Tax Audit. Sometimes, the IRS just wants to see some receipts for a charitable donation or a credit card receipt. Generally, it takes no more than a simple response letter to resolve the issue. However, it may escalate if you do not have said proof.

You can avail the excellent Federal Tax Audit Services provided by SG INC CPA to handle any such disputes.

  1. Office Audit

An Office Audit is rarely conducted without good reason. The IRS might want to interview a taxpayer in person for clarification or proof of certain claims. In essence, this is a full-fledged Audit. The taxpayer is asked to visit regional office of IRS for an interview. The services of an Audit expert can be taken in such circumstances.

In fact, it is vital that you obtain the services of a competent tax professional. Otherwise, you might inadvertently cause the IRS to increase your scrutiny.

  1. Field Audit

A Field Audit is conducted at your residence or office. IRS sends an agent directly to your place. This is an intrusive kind of Audit. It is conducted in a detailed and invasive manner. Such an Audit is never limited to a specific item or agenda. This is a very rare form of Federal tax Audit. However, it is advisable that you avail the services of professional Federal Tax Audit Services to represent you. SG INC CPA can provide extremely helpful services in such circumstances.

  1. Line-By-Line or Targeted Audits

The Line-by-Line Audits are the most dreaded audits. The target for this audit is generally chosen at random. Every single line on the return is examined. While this is the harshest form of Audit, it is also the rarest. It only occurs at the behest of National Research Program (NRP). These Audits provide valuable data to the IRS. It gives them directions to conduct future targeted audits.

Federal Tax Audit

We can provide excellent Audit Defense and Support Services. We aim to reduce your organization’s liabilities and show it in the best light possible.

WHAT OUR CLIENTS SAY

Carl

I feel comfortably familiar with Muhammad Asim Shamim. I have worked with him for a few years, ever since I had to undergo Federal Tax Audit. He offers a full line of tax planning, accounting and tax preparation services. My tax preparation experience with him has been very positive and rewarding throughout the years. He gave me excellent advice on tax planning and preparation.

Anand

I am pleased with the work done by SG INC CPA. They gave me excellent advice in my Federal Tax Audit. Their tax document handling is exemplary. They charged reasonable prices for all the services I obtained from them. They have been very responsive to my needs and inquiries. I am satisfied with the services I received. All I can say is, thank you for proving my trust in you was not misplaced.

Ralph

Very good work ethic. Loved working with Mr. Asim in my Federal Tax Audit. I have decided to continue working with him so long as he maintains this work ethic and dedication.

The Audit Concluded

A Federal Tax Audit can end in three ways.

  1. There will be no change in your returns
  2. You might find yourself owing more taxes
  3. The IRS might owe you a refund

If the outcome of an Audit is unfavorable, this might not necessarily be the end. You can appeal to the IRS for a change. Moreover, you also reserve the right to go to the Court.

The Best Federal Tax Audit Services in Texas

SG INC CPA provides the Best Federal Tax Audit Services in Texas. Our services include;

  • Accounting for income taxes
  • Accounting methods and periods
  • Compensation and benefits
  • Corporate tax and transactions
  • Estate, gift and trust planning
  • Federal credits and incentives
  • Flow-through entity planning
  • Income tax compliance
  • IRS controversy, practice and procedure
  • Non-profit tax services

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