What's the Audit Process of The IRS?
An Internal Revenue Service (IRS) audit often occurs when the IRS needs to confirm some details on a tax return form and determine its accuracy. Approximately one in 75 individuals get audited by the IRS.
This implies that about 80 percent of all taxpayers will get audited at some point during their working lifetime. However, it is not always random. Those who get selected are often people who have a much higher likelihood of making an error or fraudulent claims on the tax return.
The IRS is one of the most powerful organizations and known to “win” a majority of their audits. This is because most individuals are unsure of all tax laws or what they need to deliver to the auditor, resulting in many tax filers owing the IRS money.
Due to these factors, IRS audits can be stressful and frightening. Rather than getting frustrated and anxious about an upcoming IRS audit, it is best to acquire an IRS audit defense. A strong audit defense includes the services of a professional tax attorney, who can assist in looking for all the possibilities that will ensure a positive financial outcome at the conclusion of the audit.