At Sterbick & Associates, we recognize the apprehension that often accompanies receiving an IRS audit notification.
Drawing upon our extensive expertise in managing audits for individuals and businesses alike, we offer reliable audit representation services.
Our adept team of tax professionals is dedicated to safeguarding your rights. Count on us to skillfully navigate the audit process, delivering outcomes that bring you peace of mind.
Here are the audit notices we handle:
Parallel Audits: When faced with an IRS audit, we conduct a parallel audit utilizing IRS procedures to pinpoint concerns and substantiate deductions or income. By comparing our audit findings with the IRS’s, we identify discrepancies and errors in the tax return.
IRS Investigation: IRS auditors ask probing questions designed to uncover details about deductions and unreported income. Even minor misstatements can lead to further complications. Hence, our firm strongly advises having seasoned legal representation throughout the audit process.
Effective Legal Representation: You possess the right to legal representation during audits, alleviating the need for active client participation. While an IRS audit is typically civil, suspicions of fraud or false reporting can escalate it to a criminal investigation. Thus, having a proficient tax attorney is crucial.
Income Disclosure: In cases where bank deposits surpass reported income, the IRS may raise inquiries. Our firm identifies potential reasons for these discrepancies (like loans, gifts, cash re-deposits, etc.) and elucidates to the IRS why these differences exist, along with advising on gathering evidence to validate deductions.
Documentation of Deductions: The IRS requires documentation (receipts, canceled checks, bank statements) to support deductions. If this documentation is unavailable, we assist in reconstructing records or using alternative methods to substantiate legitimate deductions, preventing additional taxes, penalties, and interest.
Failing to address an audit notice may lead to severe IRS penalties, including the denial of business expenses, imposing substantial taxes, penalties, interest, and potential seizure of assets.
Ease the IRS burden.
Schedule a risk-free consultation today!
