If you are like most people, the scariest words in the English language are “IRS audit.” Not “grim reaper,” not “root canal,” but “IRS audit.” You can just imagine this menacing IRS agent knocking on your door and handing you a tax bill for thousands of dollars.
You feel so helpless. You tell yourself, “Who am I to take on the big, mean IRS?” Well, you’re not helpless, because I’m in your corner. Not only can I take on the IRS for you, but I can also beat them—provided you have the proof.
As you grow your business and make more money, your chances of an IRS audit increase. For example, on an individual tax return, here are your chances of audit:
- one in 38 with $200,000 or more in income
- one in 10 with over $1,000,000 in income
- one in three with over $10,000,000 in income
Also, you always have exposure to random IRS audits.
Let’s assume you were not in the “lucky” category and the IRS sends you that ugly audit notice. What do you do now? First, you call me.
What will I do? This depends on whom you will face in the audit: a tax auditor or a revenue agent.
If the IRS wants you to come to its offices, you likely will meet with a tax auditor. With just a little time with me, you may be able to handle this by yourself, because tax auditors are not tax experts. Or if you simply don’t want to talk to the IRS, I can represent you with or without your presence.
On the other hand, if the IRS wants to come to your offices, expect a revenue agent. In this type of examination, you generally want me with you. I’m going to speak the same technical language as the revenue agent, and this helps ensure that you don’t lose your rightful deductions.