Many businesses dread the possibility of being audited by the IRS. Therefore, if you receive a Notice of Audit from the IRS, you may feel anxious and concerned. You should never face an IRS audit alone. You need a competent and skillful tax defense attorney who has experience dealing and negotiating with IRS agents.
Warren Law Group can assist you by identifying any sensitive issues on your tax returns that may have triggered an audit and defending your company from potential penalties and fines. If you are facing a state tax audit, we can help you navigate your state’s tax processes and create an aggressive strategy for your state tax audit defense.
In a federal tax audit, you have the burden of proving that the income, credits, and deductions taken on your tax returns are legitimate. This makes an IRS audit especially stressful, complex, and sensitive. At Warren Law Group, our attorneys have extensive experience navigating the tax code and defending businesses from audits.
As a taxpayer, you should never ignore any notices sent by state or federal tax agencies. Ignoring an audit notice can result in severe consequences. For example, the IRS or your state tax agency will frequently send a “Notice of Proposed Assessment” with an arbitrary proposed increase to your tax liability. If you ignore the taxing agency, you will ultimately receive a notice of deficiency, which is also known as a 90-day letter.
Failure to respond within the deadline to a 90-day letter will result in the agency’s assessment and proposed tax liability being entered as a judgment against you. After that, the IRS or state tax agency will begin collection on your debt. This can seriously derail your business. You can avoid this fate by contacting a tax and financial services lawyer who can help.