Many taxpayers do not fully understand the tax code and all its complexities, but most taxpayers know what it means to be audited. Although in simpler terms a tax audit occurs when the Internal Revenue Service wants to review information submitted in a tax return, taxpayers are fearful of a tax audit. When a taxpayer receives notification of a Tax Audit Wagner and Associates will guide them through the whole process and ensure that clients receive the best audit representation in the business.
Tax audit experts are educated on tax law and are registered as enrolled agents. An enrolled agent is authorized by the IRS to act on behalf of a taxpayer and has unlimited practice rights. They can represent any taxpayer, any type of tax issue, at any IRS office. This credential is the difference between hiring a tax consultant who can only advise taxpayers, but cannot actually represent them, and enrolled agents who are accountable to their clients and have the tax knowledge their clients need to walk them through the entire examination. They are governed by a code of ethics they follow as a standard for their conduct and their professional responsibility.
Taxpayers have rights. They have the right to ask IRS auditors questions, and the right to appeal a decision. Tax audit experts know what taxpayers rights are and how to apply them. When a taxpayer is audited and does not seek professional help, they may forfeit money they were entitled to receive, or pay more money than they owe. In the event of a Tax Audit Wagner and Associates know what documentation clients need to provide and how to substantiate their positions.
Many tax audits are conducted strictly by communicating with the IRS through the mail and others are face-to-face interviews with an IRS auditor. An audit by mail is no less important than an in-office meeting. Tax audit experts counsel clients for each type of audit. They will request and review all the required documentation from their clients for a correspondence audit and will represent clients in person at an in-office meeting. Hiring a professional when an individual or a business is audited is the first step a client should take in the auditing process. For more information about these services click here. You can also follow them on Twitter.
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