An IRS audit is a review or examination of an individual's or organization's accounts and financial information. This review ensures that information is reported correctly according to tax laws and that the reported amount of tax is accurate.
The reasons for an IRS audit can range from random selection to specific triggers. Common reasons include:
The Benefits of Hiring an Attorney for an IRS Audit:
Conclusion
Facing an IRS audit can be a daunting experience, but being prepared and knowledgeable about the process can alleviate some of the anxiety. While you can navigate the process on your own, hiring a tax attorney can provide valuable expertise, ensure that your rights are protected, and potentially save you money. Whether or not you choose to hire an attorney, it's essential to approach the situation calmly, stay organized, and respond promptly to all IRS communications. Refer back to our IRS Tax Blog for additional help
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