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Tax Law

How Do IRS Audit Defense Lawyers Help You?

Do not hesitate to call Fort Collins IRS Audit Defense Lawyers to help you during an audit. This experienced group can help you review your current financial records before the audit even begins and provide answers to any questions that you may have. They will also coach you on how to best respond to the questions that are posed to you during the audit. During an audit, many questions can be asked by the IRS auditor. If you do not have a prepared response, the Fort Collins IRS Audit Defense team can provide support with suggestions, advice or information that will help you prepare and follow the directions given to you throughout the audit.

 

If you are in a tax situation that calls for an audit, it is a good idea to get a tax lawyer to represent you before the audit. A tax lawyer is familiar with local court rules and procedures and has expertise in representing individuals and small businesses in difficult situations. Hiring a tax lawyer in Colorado to help protect your rights will make the entire process easier to deal with and may cause the IRS to drop its request to force you to repay a portion of your back taxes.

 

You should also consider hiring an attorney if your tax situation does not involve federal tax debt. The IRS will most likely continue pursuing collection on state tax debt and it may be difficult for you to pass an audit. An experienced Fort Collins tax attorney can inform you of your rights and options, giving you the upper hand in your complex situation. Having someone on your side will make the experience less stressful for you and your family.

 

The Fort Collins IRS Audit Defense team can also advise you on how to best proceed after your initial meeting with the Internal Revenue Service auditor. If you hired a tax attorney, he or she will review your personal financial records along with those of your business. They can determine if the information you provided to them is correct, give advice on how to fix any discrepancies, and can even negotiate with the IRS for you to settle your tax debt in a shorter period of time.

 

An audit defense lawyer can negotiate with the IRS for a reasonable settlement amount that will still allow you to pay what you owe. With so many tax laws on the books, it is difficult to settle a bill with the IRS without a compromise. For instance, some taxpayers believe that federal tax laws allow them to deduct expenses they pay to their children’s college tuition or rent. Although this is not allowed, many taxpayers attempt to qualify for this tax break under the pretense that their children will be able to afford their college tuition. When the IRS audited a home and found out that the tax deduction was not allowed, some taxpayers were forced to file bankruptcy or have the charge against their home go on their credit record. An experienced Fort Collins tax attorney may be able to negotiate a reasonable settlement before a judge allows a compromise to go on your credit record.

 

In order to avoid unnecessary tax audits, it is important to keep all documentation related to the transaction. The audit process may start with an initial review of your financial records. If they find something that looks out of place, they will need additional information and documentation in order to justify the original tax suspicion. If the case goes to court, a Fort Collins tax attorney has the knowledge and experience needed to represent you in front of a judge and ultimately help you get out of any financial hardships caused by the audit.

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