Once your business has been selected for an IRS audit, the accountants and bookkeepers at Beverly Hills Bookkeepers can assist you through the audit process. Although being selected for audit does not always mean that there has been a tax return error, successfully identifying the items identified for examination is a very important task. Our professionals have extensive experience with this and can help you and your business achieve the most favorable outcome possible.
Among the different types of audits, businesses are usually selected for either an Office Audit, where the audit is done in the auditor’s office, or a Field Audit, where the auditor goes to the taxpayer’s place of business. The basic elements of the audit process are similar, regardless of the type of audit. These components, together with some of the reasons for enlisting the services of an experienced professional to assist with audit defense, are outlined below:
An experienced professional will know what documentation and paperwork is required to substantiate the items identified in the audit request. This is an important since providing this documentation within a specified time period is the legal responsibility of you and your business.
An experienced professional will have knowledge on how the tax code applies to the items identified for further investigation by the audit request.
An experienced professional will have experience communicating effectively with the IRS. They have knowledge on how to answer the auditor’s questions without providing extraneous information that could possibly damage the audit defense.
An experienced professional will know how to evaluate the final audit report and will suggest submitting an appeal to the IRS Appeals Division if they do not agree with the auditor’s final outcome.
The professionals at Beverly Hills Bookkeeping have helped numerous business clients to successfully resolve the issues which prompted their selection for an IRS audit. Since our firm has the advantage of CPA oversight, we can negotiate directly with the IRS on behalf of you and your company during the audit process. While, on the one hand, an audit can result in a return being accepted as it was originally submitted, a poorly conducted audit can result in an additional assessment.