The thrill of getting mail in our mailboxes is not what it once was. Years ago, our mail often included notes from loved ones and cards from friends. Nowadays, these communications are generally sent through social media platforms or email. Actual written mail often includes bills or worse — a notification from the Internal Revenue Service (IRS).
Why would I get mail from the IRS?
The IRS still relies on traditional mail to reach out to taxpayers about concerns regarding their tax returns. A letter from the IRS is rarely junk mail. Do not discard it. Open it, review the contents carefully, and then put together a plan to deal with whatever the IRS is asking for.
This could include additional information to clarify a tax discrepancy or notification of an official audit.
Why is the IRS auditing my tax returns?
There are a number of red flags that could have caught the tax authority’s attention. Examples can include errors in reported income, a failure to claim foreign accounts, and certain tax deductions. Simply having a high income or owning a business can also result in increased scrutiny.
Whatever triggered the audit, it is important to take the matter seriously.
What should I do next?
There are different types of audits. It is important to review the notification carefully before moving forward. Some simply require additional verification, such as a request for records to support charitable donations. Others are more intrusive and can require meetings with an agent.
Once you know what the IRS is asking, it is important to gather up documentation and reach out to a professional. The attorneys at Goldburd McCone have experience navigating federal tax audits and can help to better ensure your rights are protected throughout the process.