An IRS Tax Audit can be one of the scariest situations a person or business can face. Often times the IRS has a distinct advantage because the average person doesn’t know enough tax law to defend him/herself against an audit.
If you’re audited by the IRS this year, you wouldn’t be alone. Annually, millions of individuals are audited by the IRS, or about 1.5 percent of all taxpayers. Most tax returns singled out by the IRS for audit contain either: tax deductions that appear to be too high in relationship to the person’s income; tax items that are erroneous; tax items that require proof or an explanation; or are on the IRS’ list of hot tax issues. The IRS puts a general fear in all taxpayers of being audited to encourage voluntary compliance with the income tax laws. The U.S. tax system depends on voluntary compliance. With today’s computers there are now more ways than ever that the IRS can monitor your tax compliance.
Our practice has years of experience in New Jersey, defending taxpayers in their audits. Each case is handled individually, and analytically reviewed and prepared for by an experienced CPA. Our expertise is a result of or years of experience defending our clients against the IRS.
Lefstein-Suchoff CPA & Associates, LLC offers IRS Tax audit & solutions in New Jersey and other areas.