IRS Tax Audits – When It Pays To Ignore An IRS Audit Notice
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If you decide not to show up at the time and place requested in an IRS audit letter, you tacitly agree to pay the additional tax in question. But sometimes, that’s the smartest course of action.
When it’s wise to stay home: if the issues the IRS questioned fall into a gray area that might be hard to prove, and those same issues appear on past tax returns as well as this one.
By ignoring the letter, you agree to pay the extra tax on those items, but only for the tax year being questioned. Then it becomes a closed matter. By not showing up for the audit, you cut the chances of prior returns being checked for those same gray-area claims.
The post IRS Tax Audits – When It Pays To Ignore An IRS Audit Notice appeared first on Semaria Consulting.
