Granville, Ohio
230 E Broadway Suite 100
Granville, OH 43023
740-587-2637

What to Do if Your Tax Returns Are Audited May 8, 2019

Granville, Licking
What to Do if Your Tax Returns Are Audited, Granville, Ohio

Few tax situations are as frightening as having your returns singled out by the IRS. Fortunately, most audits can be fairly easy to resolve, sometimes by having your tax attorney mail additional documentation to an agent. Understanding why returns are selected and what to do if you receive an IRS notice will alleviate stress and help you resolve the situation as quickly as possible.

Why Are Returns Selected for Audit?

Every year, the IRS selects just over one million returns for audit—that’s approximately 0.5% of all taxpayers. In most cases, audits are triggered by omissions, common mistakes, or discrepancies between your returns and those of other businesses or taxpayers. The audit of a business associate might also trigger an audit of your company or you could be selected at random by a computer program.

What Does an Audit Mean?

tax attorneyIn general, an audit is a review of your financial records to ensure your tax return is complete and accurate. While you might have visions of a stern IRS agent going through years of receipts and earning statements, in reality, most audits are conducted through the mail. Once the auditor receives the documentation they’ve asked for, they’ll either approve your return or ask you to file a new one with requested amendments.

What Steps Should You Take if You’re Being Audited?

The first step in managing an audit is to read the IRS notice carefully. They might only be asking for receipts or invoices or they may have questions about a payment. A tax attorney can help explain exactly what the IRS is looking for, identify what documents to collect, and even represent you during the process. If you disagree with the auditor’s conclusion, they can also file an appeal on your behalf.
 

For over 25 years, taxpayers throughout Ohio’s Knox, Licking, Muskingum, and Franklin counties have relied on Vernau Law for effective representation and insightful legal advice. If you’ve been selected for an audit, their tax attorneys will guide you through the intimidating process and work to achieve the most favorable outcome. To speak with a tax attorney and schedule a consultation, visit their website now or call (740) 587-2637.

Other Announcements, Events and Deals from Vernau Law LLC
FAQ About Wills, Granville, Ohio
A will is a document in which a person details their plans for who should inherit their assets after they die. Because a will is a legally binding arrangement, it's not uncommon for ...read more
Co-Parenting During COVID-19 Under Ohio Family Law, Granville, Ohio
Ohio family law allows for co-parenting, recognizing the benefits children receive through balanced relationships with both parents. Restrictions imposed due to COVID-19 might make i...read more
How to Talk to Your Parents About Their Will , Granville, Ohio
If you have elderly parents, estate planning can be a difficult topic to discuss with them. Conversations related to death can be off-putting, and wills and trusts can be complex and...read more
What Legal Facts Should Every Ohio Landlord Know?, Granville, Ohio
As a landlord, you have certain legal obligations to your tenants. These are dictated by state and federal law, and if you violate them, you may find yourself getting served with leg...read more
A Brief Guide to Prenuptial Agreements, Granville, Ohio
If you’re planning a wedding, drafting a prenuptial agreement is probably one of the last aspects on your mind. After all, no one enters into a marriage with the intention of filing ...read more