The prospect of an IRS audit can quickly make your palms sweat and your heart race – no one wants to be on the other side of a battle with the Internal Revenue Service. Referring to an examination of your accounts and financial information, an IRS audit seeks to determine whether or not your income and taxes were accurately reported and paid. If the IRS disagrees with what your reported, there can be serious penalties. During an audit, turn to the Denver IRS audit representation attorneys of Robinson & Henry, P.C.
The Consequences of an Audit
There may be no consequence of an audit – you and the IRS may be in agreement about what you reported to the IRS on your tax returns and how much you paid. However, this is often not the case. If the IRS determines that you inaccurately paid/reported your taxes, you may be:
- Charged interest – if the IRS determines that you owe it money, you may be charged interest if the money is not paid by a certain date;
- Fined – you may be fined a penalty for underpayment, based on a percentage of the total amount you owe the IRS; and
- Incarcerated – if you intentionally committed fraud or tax evasion, you may have criminal charges – resulting in incarceration – pressed against you.
Your Rights During an Audit
While an audit can be scary, you do have rights during the process. Our Denver IRS audit representation attorneys will guide you through your right to: be treated professionally by the IRS; not be harassed; privacy and confidentiality; appeal any disagreement you have with the IRS about their audit findings; and to seek legal representation.
How a Tax Attorney Can Help You
If you are the subject of an IRS audit, you should seek counsel from a knowledgeable tax attorney quickly. A tax attorney can assist you throughout the audit process by protecting the rights listed above, as well as conducting a parallel audit in order to locate any mistakes or red flags in your tax returns, identify reasons as to why a mistake may have been made during the filing process and to help you explain this reason to the IRS, reconstruct important financial documentation (like bank statements, checks, etc.), and represent you in any discussions with the IRS. The latter is especially important if the IRS suspect intention fraud and criminal charges are possible.
Remember, we can also help you to appeal an audit that you do not agree with. If the IRS says that you owe money and you do not believe that you do, don’t just pay – call our attorneys today.
Denver IRS Audit Representation Attorneys Ready to Get to Work
If you have questions about the audit process, are the subject of an IRS audit, or do not agree with an audit decision, contact our talented Denver IRS audit representation attorneys at the law firm of Robinson & Henry, P.C. for a free case consultation. You can reach us at (303)-688-0944 now.