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IRS audits allow the US government to verify the information submitted on tax returns. Find news and information about how to protect your interests.

What To Expect From IRS Audits | The Tax Lawyer

What is an IRS Audit?

An IRS audit is an examination of an organization’s or individual’s accounts and financial information to check that the information was reported properly and in conformity with the tax laws.

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What Happens at the Conclusion of an Audit?

At the conclusion of the audit, the taxpayer will receive an official decision from the IRS. The taxpayer has several choices regarding how to respond to the IRS official decision, depending on the type of decision the IRS issues.

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What Does the IRS Consider as Income?

The IRS can tax individuals based on what is classified as taxable income. In general, most income that an individual earns is considered taxable income by the IRS and one of the primary considerations in an IRS audit is whether all taxable income has been properly reported.

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What is the Statute of Limitations on an IRS Audit?

The Statute of Limitations on an IRS Audit

Generally, the IRS can include returns filed within the last three years in an audit.  According to information contained on the IRS website, the IRS tries to audit tax returns as soon as possible after they are filed. This means that most IRS audits will be of returns filed within the last two years.

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The Scope of an IRS Audit

How Does the IRS Determine the Scope of the Audit?

The IRS examiner performing the audit will select items that are worthy of examination. In selecting items for examination, the IRS examiner will choose items on the taxpayer’s tax return so that, with reasonable certainty, all items necessary for a substantially proper determination of tax liability can be considered.

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Reopening Closed Tax Cases

In rare cases, the IRS may decide to audit a taxpayer’s return more than once. The reopening of a closed case is typically unfavorable to the taxpayer.

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IRS Revenue Agents and Auditors

Depending on the type of IRS audit being performed, either an IRS Auditor or an IRS Revenue Agent. The two types of IRS agents have different roles and duties.

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IRS Requests for Information - What You Should Know

What are IRS Requests for Information?

During an audit, the IRS will typically send written information requests to the taxpayer. They may issue a series of these written requests. The IRS also has the power to send written requests or summonses to third parties associated with the taxpayer, including banks, vendors, clients, and business associates.

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