Did you receive a notice in the mail indicating the Internal Revenue Service plans to audit an income tax return? Consider reaching out to a Michigan tax attorney immediately for help responding to the IRS.
According to the Transactional Records Access Clearinghouse, the IRS only audits about 625,000 of the roughly 164 million individual income tax returns filed each year. This suggests your chances of being audited by the IRS are extremely low.
However, the IRS has beefed up its approach to conducting audits over the last few years to ensure tax compliance. This could make you more susceptible to an audit in the coming years.
See how a tax attorney in Michigan can help with your audit defense by providing IRS representation below.
Many American taxpayers won’t ever have to worry about facing an IRS audit. Despite the IRS’s campaign to perform more audits, recent studies have shown that only about one out of every 500 individual tax returns is audited annually.
Because of this, the average American doesn’t always know what to expect when they find out they’re being audited. This alone can cause many people to panic.
A Michigan tax attorney can bring your anxiety levels back down to earth by breaking down the audit process. You’ll feel better about your situation when you understand how an IRS audit will play out.
Some people are under the impression that being audited by the IRS automatically subjects them to tax penalties. This couldn’t be further from the truth.
An audit is simply the IRS’s way of reviewing your financial records to ensure you’ve filed your taxes properly. You’ll only be subjected to additional taxes and/or tax penalties if you made a mistake while filing your taxes or knowingly included incorrect information when calculating your tax liability to the IRS.
A Michigan tax attorney will help you compile the necessary financial records as you’re preparing for an IRS audit. This should make the audit process more seamless and less time-consuming overall.
Communicating with the IRS is one of the worst parts of going through the audit process. It may send your stress levels through the roof.
Thankfully, you won’t have to be concerned about communicating with the IRS when you have a Michigan tax professional in your corner. They’ll take care of IRS communications. They will also cut down on how often you have to speak with an IRS auditor to ask questions or express concerns about the process.
Did you know you can go to tax court to dispute certain IRS tax claims? You can also count on a Michigan tax attorney to remain by your side while providing the tax court representation you need.
Few individuals end up in tax court each year. However, it will be nice knowing you have a tax lawyer to help if you choose to take a case this far.
If the IRS sends you a notice revealing that the agency is planning to audit an income tax return, a Michigan tax attorney from Levy & Associates will help. You will also benefit from attorney-client privilege throughout your audit proceedings.
Contact us at 313-447-1704 or fill out this form to take advantage of our personalized audit defense services.
Levy & Associates is available for free initial consultations. We’re happy to answer any questions you have about the audit process or address any concerns about your specific situation.
There’s never a good time to be audited, and the time-consuming process will take away from your business or family if you try to face it alone. Let us handle and coordinate communication, so you can return to your daily life.