TaxAudit Blog

Tag: audit

Amended Tax Return

If the IRS notices that you filed an amended return, will that cause them to inspect your tax return more closely and trigger a full-blown tax audit?

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Woman reading letter

The IRS will always notify you by mail if your tax return is selected for audit. The IRS will not initiate an audit by a phone call, email, or text message.

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We Will Win written on blocks

"Winning a tax audit,” simply means that you’ve paid the IRS no more than you rightfully owe. This is where the professionals at TaxAudit come in to help!

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Internal Revenue Service Sign on Building

If you have ever gone through an audit with the IRS or are just curious why the IRS audits tax returns in to begin with – you are in the right place.

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Person looking over paperwork

The gap between what taxpayers owe versus what they actually pay looms large. IRS audits are an attempt to collect the funds required to close this gap.

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Paper Stacks with calculator

State agencies who collect income tax can audit your tax return. One of the most common reasons for a state audit is the audit of your federal tax return.

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IRS Examiner

If you’ve been lucky enough to never receive a love letter from the IRS, you’ve probably wondered: What is it like to go through a tax audit?

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Man handing a woman a letter

With TurboTax Audit Defense if you receive a letter from the IRS or state tax agency, simply contact TaxAudit that you’ve received IRS correspondence for help.

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Umbrella blocking a wreaking ball

If you have audit protection, you don’t have to panic when you get a letter from the IRS. Instead, you can call TaxAudit right away, so we can step in to help!

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Two TaxAudit Tax Professionals working on a case

What is Audit Defense? And is it worth it? Let's provide some clarity about exactly what you are getting when you purchase Audit Defense from TurboTax!

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Money and paperwork on a desk

Whether an amount paid for taxes as the result of an IRS or state tax audit is deductible depends on the type of taxes involved. Let's explore more…

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Business Owner Looking at Receipts

There are many options for managing your small business tax debt. A tax resolution specialist from TaxAudit can guide you in choosing the best approach.

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Tax Refund Ahead Sign

One of the best ways to check the status of your refund is on the IRS website. Your tax professional may also be able to give you a timeframe for your refund.

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TaxAudit Audit Defense Member and her Family

Yes! Audit Defense is worth it. Not only do audit defense members get help with IRS and state correspondences – there are a variety of other benefits.

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Tax Resolution Specialist

If you find yourself with tax debt due to unpaid payroll taxes, you may have options to help settle the debt. Let’s review some payroll tax debt relief options.

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Statute of Limitations

Generally, the IRS can take up to 3 years from the date you filed to review your return. In certain situations the statute of limitations can be extended.

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Tax Deductions

A taxpayer with a sole proprietorship and reports business income and expenses on a Schedule C may claim a prorated amount of the Audit Defense Membership.

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Definitely Worth It

Yes, TurboTax Audit Defense It is absolutely worth it. Those who have audit defense do not have to panic or make frantic calls upon receipt of IRS tax notices.

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Doing Taxes

The most important thing about having audit defense, in my opinion, is peace of mind. Your tax professional will help you navigate the waters of a tax audit.

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adding machine

The first thing to do when you get audited by the IRS is to not panic! It be scary but with the right tools and resources you will be able to get through it.

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1040 Tax Return

Absolutely! Now’s let’s chat about how and why audit defense works. Any taxpayer may be subject to receiving an audit or notice in the mail.

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IRS

Rest assured the IRS has no advance knowledge that you have elected to have representation in the case of an audit through Audit Defense.

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Woman Thinking

You might be questioning if TurboTax Audit Defense is any good as you file your tax return through TurboTax. Yes, you want audit defense and it is worth it!

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Back Taxes

Back taxes are defined as taxes that were not paid in the year they were due. Penalties and interest may also get tacked onto back taxes if they remain unpaid.

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definition

Audit Defense means you will have professional representation in the case of receiving an audit notice from the IRS or any state income taxing agency.

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Calendar pages flipping back to the past

One of the frequently asked questions we get from our customers is, “Can I buy audit defense for tax returns filed in previous years?” The short answer is: Yes!

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Audit Blocks

The terms ‘audit support’ and ‘audit defense’ may sound like the same thing for the average taxpayer.  But in the world of taxes, they can be very different.

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Man reading a notice

I could not have been more pleased with TaxAudit services. I highly recommend this service for anyone who does their own taxes.

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Five Star

Yes, TaxAudit is a good company that has been providing clients with A+ rated tax representation services since 1988. TaxAudit truly cares for its clients.

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Woman reading a letter

There are hundreds of different types of letters and notices you can receive from the IRS. Let's focus on a few of the more common IRS notice types we see.

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AUDIT spelled out with small blocks

If you are under audit, it is acceptable to submit your current tax return. Just be mindful that you may have to amend it once the previous year's audit closes.

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Question Mark

Put simply, your audit defense membership is valid as long as your tax return is eligible to be selected for audit or review by the IRS or State!

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attorney helping client

Well, the truth of the matter is that an attorney is not always needed but, in some cases, one is absolutely required. So, how do you know when that might be?

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red binder labeled audit

When you filed your tax returns through TurboTax, you decided to opt in and purchase Audit Defense. If you get a future IRS letter, how does Audit Defense work?

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Multiple Tax Returns

Your audit defense membership with TaxAudit provides expert representation for each tax return year for which you have a membership.

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Stimulus Check with $100 bills

The IRS has not issued guidance on whether an EIP distribution will be placed on hold if a taxpayer’s 2020 return is audited to question dependents.

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Pen that wrote a la carte

Yes, you can purchase audit defense a la carte on TaxAudit's website (www.taxaudit.com). TaxAudit is the leading audit defense company in the nation.

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Tax Professional going over audit letter with couple

When you purchase Audit Defense from TaxAudit, you’re purchasing more than just assistance with your IRS or state notice. You are choosing peace of mind.

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Wage Garnishment

If you are buckling under the weight of an IRS wage garnishment, it is time to get yourself free! We have seven practical ways to stop an IRS wage garnishment.

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Audit Letters

Avoid the temptation to ignore the notice. In most cases, the IRS or a state agency may only need additional information to finish processing your return.

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IRS Audit Written on a Paper

The length of an audit depends heavily on the issues being addressed, the level of documentation required, and the Examination Division doing the audit.

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Tax Gap written on a Note

The tax gap is the difference between what the government actually collects in taxes versus what they should have collected to cover the real tax liability.

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Audit

First and foremost, audit defense works by protecting you from the hazards and stress of facing off against the IRS (or a state tax agency) on your own.

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State Taxes Sign

Yes, TaxAudit, the exclusive provider of TurboTax Audit Defense, represents members through the completion of any state or federal income tax audit.

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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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Audit under a Magnifying Glass

​"Unreal audits" often require the same verification principles as traditional audits and incite the same level of discomfort as a real examination.

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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? Scarface went to prison for - of all things - 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. 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? 

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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 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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Audit Stamped on 1040

When your tax return is audited, the IRS will ask to see records and documents that show how you came up with the dollar amounts reported on your tax return.

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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.