IRS Audits and Offers in Compromise
We would be honored to chat with you about your accounting, tax and finances whether personal or business. We offer a Free, No-Obligation consultation (at your place or ours). During our meeting we will discuss your concerns and questions and let you know how we can help you and our costs. Our consultations are not just sales pitches, we will offer you some solid ideas and solutions to help you right off the bat. To schedule a consultation at a time convenient for you call us at any office or call us toll-free at (888) 758-5966 or click here to email us.
IRS Audits and Other Tax Audits Are Survivable
No one wants to face the stress and uncertainty of an IRS audit. But, it is not just the IRS that can demand you support your reported amounts. State tax agencies, sales tax agencies, local agencies and special tax districts all can potentially knock on your door.
We know just how to organize your return information to best present your position. Before the scheduled audit appointment we will help you get your records together and organized in such a way that you can clarify and justify your position to the agency. We will help you present to the auditor your information in a straight-forward, factual and lawfully supported manner.
What we do for you
Our audit support services for you can include the following:
- Request to the government for additional time to prepare for the audit.
- Assistance with accumulating and organizing your records.
- Assistance with the reconstruction of missing tax records.
- Preliminary analysis of your exposure to any additional taxes, penalties or interest.
- In the event there were issues with your return, we can assist with your request for penalty waivers for reasonable cause.
- Develop alternative strategies to support tax positions when traditional documentation is unavailable.
- Provide proper professional damage control at the beginning of the process.
- Assist you with legally required disclosure of discovered errors.
- Evaluate any application of the various statute of limitations to your returns or filings.
- Assist with the establishment of installment payment arrangements when you do owe taxes.
- Help you file tax un-filed tax returns of past years or periods.
Offers in compromise
We've all heard the radio and television ads making it appear that it is easy to hire that "expert" that will get you into a position where you pay the IRS only pennies on the dollar. Those commercial come-ons worry us because we know what the real rules are for offers in compromise with the Internal Revenue Service. An offer in compromise is not a generous gift from the IRS.
In fact, the IRS agrees. "Such promoters make money by inappropriately advising indebted taxpayers to file an application for an offer in compromise with the IRS, promising unrealistic results, even when the taxpayers do not meet the requirements of the program. This bad advice costs taxpayers money and time." You can read the full IRS warning at http://www.irs.gov/uac/Check-Carefully-Before-Applying-for-Offers-in-Compromise-1.
Indeed IRS offers in compromise are real and do happen. But they are far from easy or guaranteed and far more often than not most taxpayers don't qualify. How do you determine if you may qualify? You can give Scholl & Company a call to schedule a free consultation and we will help you evaluate your situation.