The Path To Finding Better Taxes

The Right Way to Handle Your IRS Audit Reconsideration Application If you get audited by IRS what happens is that you may agree with or dispute the outcome of the IRS audit process. There’s the provision for apply for audit reconsideration when you’re disputing the tax IRS says you owe. Your audit with the IRS is reviewed when your application is successful. As you seek professional help with handling an IRS audit reconsideration request, here are insights to help you get it right: Factors Under Which an IRS Audit May be Abated The IRS is authorized to withdraw all or part of its assessment if certain conditions are found to be true after your audit has been revisited. A case in point is when the tax that an evaluation claims you owe exceeds the right tax obligation, in which case, correction is mandatory. Another situation is if the evaluation was completed after the expiration of the duration of limitation that applies. In case of a mistake or illegality in the audit, you may be granted reprieve too.
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However, you may expect no IRS audit reconsideration after you’ve already committed to deal to pay the amount owed, for instance a closing agreement or offer in compromise. Likewise, expect no tax audit reconsideration in case the U.S Tax Court or another court has already delivered a final determination about your tax obligation.
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Preparing to Submit an IRS Audit Reconsideration Request Certain conditions should be addressed by a tax payer before they can submit their application to have their IRS assessment revisited. First thing is to submit returns for the tax period in question. And if available, send a copy of the audit report too. It’s also crucial to point out the changes being sent for re-assessment. Never leave out a comprehensive memorandum pointing out the relevant facts and applicable regulations. As you proceed, just know that audit reconsideration is not a legally guaranteed right to the tax payer, rather, it’s accepted totally at the discretion of the tax authority. Your request should explain your stance and arguments based on the law without leaving out supporting evidence. The results of an audit reconsideration application may disappoint when no adequate evidence has been offered to support the tax payer’s claims. Normally, the IRS hold ups any collection activity after it has received an audit reconsideration request, although it does not have to do this under the law. Submit an application for the review of your IRS audit after you’ve exhausted your other options, including filing a petition. The complete audit reconsideration files ought to be prepared and submitted in the same way as an Appeals notebook. So, get professional help with the filing of an IRS audit reconsideration request to stand a better chance.