TaxAudit Blog

Tag: audit

Customer Service Representative

TaxAudit is the exclusive provider of TurboTax® Audit Defense. The phone number for TaxAudit’s customer service department is 877.829.9695.

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Person getting mail out of mailbox

The first step in preparing for that audit is reading the letter carefully. Audits rarely examine everything on the return, but only ask about specific items.

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Audit Defense Tax Professional

Audit defense gets you access to a dedicated tax professional who will develop a strategy and handle all communications with the IRS or state agency.

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email symbol on smart phone

Before your audit defense certificate can be sent via email, TurboTax must first notify TaxAudit of the audit defense purchase. This usually takes 1 to 6 days.

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Stimulus Check

If you are currently under audit with IRS, you will still receive a stimulus check if your income falls within the eligibility limits.

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small business owner

If you are the sole proprietor, the chance of being selected for audit by the IRS is 4.5 to 12 times higher than it is individuals without a business.

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Back Taxes written on a computer screen

If you owe back taxes, there are options to resolve your back taxes, and TaxAudit can help. Here are a few possible options:

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IRS Auditor

Audits happen for many reasons, and while you may think a disgruntled neighbor ratted you out, the reality is most IRS audits are initiated for other reasons.

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Audit stamped on a piece of paper with a gavel laying next to it

 Whether it’s an audit or a notice, receiving a letter in the mail from the IRS is most taxpayers’ worst nightmare. What can you do that will lower your risk?

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Tax Audit written on financial paper

A tax professional spends four to ten or more hours per audit - think of the time and stress you could save yourself if you purchase pre-paid audit defense.

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Tax Professional holding up a Calculator

Full Audit Representation through an Audit Defense Membership, is included at no additional cost. Other tax experts charge roughly $150/hour for representation.

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Tax Professional looking over tax documents

With Full Audit Representation, also known as Audit Defense, a Tax Professional will defend your tax return through the entire audit process if you are audited.

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Amended Tax Return on a keyboard button

Generally, amending an already filed tax return will not extend the time the IRS has to audit the return, which is normally three years.

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Estate Tax Return

The IRS generally has three years from the date the returns were filed to audit. However, in certain circumstances a return can be audited within six years.

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Football Play

On the IRS’s website is a list of Audit Technique Guides (or ATGs) that IRS examiners use as a roadmap when auditing various types of income tax returns.

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clock on an audit report

The fact is that there is no standard answer to how long it will take for the IRS to finish up your audit and tell you what, if anything, you owe.

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Man looking at tax return with magnifying glass

Audit defense is a service offered through TaxAudit to support our members in the event that their state or federal tax return is selected for review or audit.

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File folders - one with the word Audit on the tab

Responding to an IRS audit is not the easiest thing to do. Surviving an audit is much easier with professional representation.

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IRS Audit

Generally, the IRS has three years form the date the return is filed to conduct an audit. However, there are exceptions to this three-year rule.

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irs agent examining a tax return

Besides official IRS examinations, the IRS also conducts other types of tax reviews that are not classified as official audits, and these are far more common.

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distressed business owner looking at paperwork

The fact is that running your own business increases your chances of being audited by the IRS or your state tax agency.

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Block with Tax words on it

The letter you hoped would never come arrived. You open it and discover the IRS has graciously sent you an invitation to their work mileage deduction review.

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hat

What do “Scarface” Capone and a tax audit have to do with each other? They actually do have a bit of a connection. Scarface went to prison for TAX EVASION!

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Stock Chart

I got a CP2000 notice from the IRS. It says I owe $12,269 for securities I sold in 2013. I purchased the stock in 2005 and sold it at a loss of almost $10,000..

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Internal Revenue Service building with traffic signal in front displaying a red light

If you get audited, do they send a letter or do they call you? In most instances, the IRS will send you a letter notifying you of the audit.

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Clock pointing the time hands towards the word TAX

The overall percentage of individual tax returns examined in 2013, published by IRS, is about 1%; however, this number only takes into account “examinations”

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Man asleep at desk

Years ago, I was just like most people when it came to taxes. Just the thought of doing my tax return gave me hives. I had been burned twice at tax time...

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stacked books, diploma, and graduation hat

We adopted our grandson three years ago - he is now a freshman in high school. When he goes to college, will his tuition be tax deductible? 

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glasses and pen laying on top of tax form

There are so many ways that taxpayers have tried to do an end run on the tax system that the IRS issues an updated consumer alert each year titled...

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Internal Revenue Service building with traffic signal in front displaying a red light

The IRS generally won’t look for you unless you owe them money. If you don’t file for a refund within 3 years of the original due date of the return...

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Clock pointing the time hands towards the word TAX

You got your return filed on time and you’ve got a nice big refund coming. But the funds don’t show up in your bank account when you expected them to. Now what?

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Money

If you are upset about the national debt, you can make a deductible charitable contribution to the Bureau of the Public Debt to help out.

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Man and Woman riding in a red car

I use my car in my business. How much of it is tax deductible, and what type of travel is deductible? Are my trips going back and forth to work deductible?

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TAX spelled out with tiles

They say that happy employees make for happy customers, and at TaxAudit.com those happy employees start with managers like Eric.

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expert highlighted

Introducing Carolyn Richardson! Our highly effective and experienced tax audit professional from Hawaii! With her three decades of tax experience,…

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Tips

Here are some simple tips to help you reduce your audit risk: Proofread your tax return A mistake on just one figure or item can present IRS audit flags…

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This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.