|
||
The top five legal things you need to know about being auditedNo one wants to be audited. And while your chances of being audited by the IRS are pretty slim (only about one percent of Americans are audited each year), it still helps to know how to avoid audits and, in the event that you are audited, you know your legal rights. What are the chances of being audited?
While some audits are entirely random, meaning there are no discrepancies in your paperwork and you were chosen at random, some of them are the result of things that don't add up or don't make sense in your claim. These are a few things that are said to increase your chances of being audited: - You reported information that does not match the information the IRS has received on various forms from your employers, banks, brokers, and so forth. Chances are you won't be audited unless there is something questionable about your tax returns. However, in the event you do get audited, you should be aware of your legal rights with regards to what you can and can't expect and how to appeal the final assessment of the audit. The following are the top five legal things you need to know about being audited: 1. Legally, you have a minimum of thirty days from the date you receive the request in the mail to respond to the request for additional information. In addition, if you have good reason, you can send a written application for additional time (usually about 30 days) to get the requests in. In the event that you are facing an audit, there are a number of things legally you should be aware of. The above are the top five things you should know. Be sure to look at the IRS' website as well for complete information regarding your audit.
|
||
Copyright 2003-2020 by BusinessKnowledgeSource.com - All Rights Reserved
Privacy Policy, Terms of Use |