Nothing strikes fear in the hearts of people more than receiving an IRS or State Audit letter in the mail. Your palms sweat and your heart rate goes through the roof. Audits take significant time away from your business and family, requiring you to gather mounds of records substantiating each and every item reported on your tax return and develop a comprehensive understanding of tax law.
Audit Representation from a qualified professional is critical. You should not go before the IRS without representation any more than you should go to court without a lawyer, and at COTTS LAW, we never let a client go to or submit an audit alone. The specifically IRS trains their auditors to extract more information from you than you have a legal obligation to provide. IRS Auditors know that most people fear them and are ignorant of their rights. As a result, they know they can use that fear and ignorance to their advantage. The IRS is not your friend!! We know the right way to represent taxpayers under audit.
We understand the implication of those “friendly inquiries” from auditors. There are red flags that may not be apparent to a taxpayer representing himself.
The IRS leaves no stone unturned in its mission to determine the accuracy of your tax return. If you don’t comply with the Auditors’ wishes, the IRS will recalculate your tax and send you home with a hefty tax bill as your parting gift. We generally can close audits quickly, which helps to avoid the taxing agency seeking to expand the scope of the audit. Generally, the cost of representation is far less than the savings gained through qualified representation.
At COTTS LAW, we have a fantastic record of “No Change” audits – when the IRS auditor uncovers nothing in the audit to increase the tax bill, and issues a “No Change” letter, closing the audit.