Don’t Panic With A Tax Audit Las Vegas

by | May 18, 2012 | Business

It is normal to panic when the IRS knocks on your door for a tax audit in Las Vegas. This would be an ideal time to seek out the services of a tax professional in Las Vegas who will ensure that this matter is addressed. The IRS uses a number system which allocates a number and keeps track of the tax returns that have been submitted. So in your case, the system could have either picked up your allocated number randomly or else there could have been a discrepancy in your submitted return.

The IRS agent will inform you of the reason for the tax audit in Las Vegas, even in case where there is no evidence of wrongdoing on your part. The IRS may decide that it was warranted for you to be audited as a wild card to maintain the element of surprise on tax payers. You should seek the service of a tax practitioner in Las Vegas who is reputable and will ensure that you get the right advice.

There have been cases where an individual is deliberately chosen for a tax audit in Las Vegas once the IRS has discovered that they under-declared their income on their tax submission. This would then inform the process forward in the determining from the individual why other items were not declared on their submission. This type of offence is regarded as tax evasion.

Other instances where a tax audit in Las Vegas will be warranted is when an individual claims a sizeable amount of deductions which are not reflective of their income or no tax liability. The IRS will investigate a person when there are a lot of mistakes on their returns and the number system has given a low score on his/her deduction. An explanation to the IRS agent will therefore be required to clarify the discrepancy that the system has highlighted.

The IRS conducts four types of tax audits namely a correspondence audit, an office audit, a field audit as well as a Taxpayer Compliance Measurement Program, a professional tax practitioner will be able to provide with a detailed on these types of audits and what they entail.

At this point it is in your best interests to contact the IRS agent, find out what is required and set up an appointment. By appointing a tax practitioner in Las Vegas to assist you with this process you will be protected from being cornered with questions that could have otherwise had a negative outcome with the tax agent. The tax practitioner will know which questions to ask which are pertinent to the reasons for the tax audit in Las Vegas.

A tax audit in Las Vegas is a time consuming and stressful process but with the right representation and advice it will be concluded sooner than anticipated.

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