Small Business in Charlotte with IRS tax audit IssuesSmall business owner in Charlotte was facing an IRS Audit for past 3 years of the Tax Returns. The case was complicated due to multiple businesses and a lapse in filing tax return for 2 years. KM Accountant took a holistic view of the client situation and help the client organize the books, put together supporting documents and restructure the tax liability and penalties so as to reduce overall taxes by more than $38,000 . A much favorable situation than was originally assessed by the IRS auditor in Charlotte. |
“In this world nothing can be said to be certain except death and taxes.” – Benjamin Franklin |
IRS Tax Audit RepresentationKM Accountant specializes in IRS audit representation. Our Charlotte based tax experts and enrolled agent will help you respond to IRS audit requirements. The Charlotte team has IRS enrolled agent that can represent your case with the IRS and help you increase your odds of a better outcome.
Types of IRS Tax AuditCorrespondence AuditThis is the most common type of tax audit. IRS requires that you mail supporting documentation related to your tax return. Typical triggers are stock transactions, sale or purchase of real estate and specific itemized deductions.
Office IRS Tax AuditThe office audit is a meeting set up with the IRS. Mainly in these types of audits the auditors will examine significant items on your tax return. It is good to consult with a tax professional such as an Enrolled Agent in charlotte to get some advice so you say the correct things and give proper support.
Field or Home IRS Tax AuditThese are typically the most serious types of audits, IRS comes to your home or business in charlotte for an audit. If you receive one of these audits, most likely you have earned well over 100K in your business or self employment. It is highly suggested that you hire a tax professional to help with the audit.
What to expect in an IRS Tax AuditDuring Audit IRS determines if you have properly reported all income, expenses and took the correct deductions and credits. It is your responsibility to prove to the IRS that what you filed was indeed correct and you must provide supporting documents for the majority of it. The IRS will make a determination if you did the proper reporting or not and if not they will assess additional taxes.
Audit Representation in CharlotteA quick fact is that the IRS actually wins over 80% of all audits, mainly because the taxpayers cannot show proper supporting documents. It is because of bad record keeping, not because of tax payers trying to cheat the system. KM Accountant’s expert tax professionals can help you organize your books, present correct documents to the IRS auditors and increase your odds of a favorable outcome. |
K & M Accounting and Tax Services L.L.C. |
Ballantyne Corporate Office 15720 John J Delany Dr, # 300 Charlotte, NC 28277 |
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(704) 502-3960 |
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“KM Accountant’s charlotte office has the best tax professionals. They are very meticulous, thorough and detail oriented. They worked relentlessly organizing our books, collecting supporting documents and finally presenting the correct picture to the IRS. We had a very satisfactory settlement. Strongly recommend KM Accountant’s services in Charlotte for IRS Tax Audit issues.” - Small Business Owner in Charlotte, NC “KM accountant not only saved us more than $2000 in annual fees, they also cleaned up our books and helped us control $7,000 worth of monthly expenses. They are the best charlotte accounting firm...”
- Professional services firm in Charlotte , North Carolina
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