When Are IRS Examinations And Audits Conducted?
An examination or audit can be conducted by the Internal Revenue Service at any time if there are sufficient indicators to suggest that the individuals’ taxes may not be in line. These procedures usually consist of a very in-depth research of the individuals’ financial records, assets, and any other information that may lend some insight into the true financial well-being of the person.
There are a number of actions that the IRS may take if it is determined that the individual is in violation of tax laws, up to and including prison time for certain infractions. It is wise to seek the services of an intelligent San Jose estate planning lawyer who understands tax laws and can help.
In the event of an audit or IRS examination, it is critical to be able to produce the right documentation that proves both purchase and the value of the item. A diligent IRS auditor may pour through receipts to build an accurate picture of your spending habits as well as your ability to make money. In most cases, it is not uncommon to be found guilty of some type of tax violation, and the IRS will surely seek to issue a penalty for the tax controversy which can range anywhere from a small fine to substantial financial penalties.
Effective Examination And Audit Defense Representation
Defending against an audit or IRS examination can be a very difficult task, but the legal professionals at WealthPLAN, PC have consistently achieved victories against the IRS in terms of elimination of charges, or serious reduction in penalties. Our firm combats the tireless research of the IRS with our own measure of focus and determination to provide our clients with the very best IRS audit defense. We have successfully won cases or drastically minimized penalties for the vast majority of our clients and look forward to serving your tax controversy issues in the future.
Contact an estate planning lawyer if you are experiencing a difficult IRS examination or audit and would like to discuss your options.