An IRS audit notification can be a nerve-wracking experience. But remember, it doesn’t necessarily mean you’ve done anything wrong. The IRS audits a small percentage of tax returns each year, often to verify specific deductions or income amounts. That’s why promptly understanding and responding to an IRS Audit is critical to avoid potential issues. At FSL Tax and Accounting Services, our experienced CPAs will equip you with the knowledge to navigate an IRS audit, whether you choose to represent yourself or seek professional help. 

Preparing for the Audit

  • Understand the Scope:  The IRS notice will specify which tax year and what parts of your return are being examined. This could be a simple mail audit focusing on a few items or a more complex in-person audit.
  • Gather Documentation:  Start collecting receipts, bank statements, canceled checks, and any other documents that support the information on your return. The more organized you are, the smoother the process will be.
  • Know Your Rights: You have the right to representation during the audit. You can represent yourself or hire a Certified Public Accountant (CPA) or another qualified tax professional.

Representing Yourself vs. Hiring a CPA

In some situations, representing yourself might be appropriate, such as a simple mail audit with clear-cut documentation. However, for most people, especially those facing a complex audit, seeking professional help is highly recommended. Here’s why:

  • Expertise:  CPAs have extensive knowledge of tax law and procedures. They can analyze your situation, identify potential issues, and ensure you respond to the IRS correctly.
  • Communication and Negotiation:  A CPA can effectively communicate with the IRS on your behalf, potentially reducing tax liabilities or penalties.
  • Reduce Stress:  An audit can be stressful. A CPA can handle the process, freeing you to focus on your daily life.

FSL Tax and Accounting Services Can Help

At FSL Tax and Accounting Services, we have a team of experienced CPAs who can guide you through the entire audit process. We’ll work with you to understand the IRS’s concerns, gather necessary documentation, and represent you professionally.

Don’t face an audit alone. Contact FSL Tax and Accounting Services today for a consultation. Call 678-702-7218 for a free consultation, or complete the online form to discuss your situation and explore your options. Our clients include businesses from diverse industries, including Law FirmsReal EstateMedical Cannabis ServicesAmazon DSP Owners, and many others. 

We understand the stress of dealing with the IRS and are here to help you when dealing with an IRS audit.