IRS Audits – ABRAHAM Tax Solutions

An IRS audit is a review/examination of an organization’s or individual’s accounts and financial information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct.

Why Are You Audited?

Selection for an audit does not always suggest there’s a problem. The IRS uses several different methods:

Random selection and computer screening – sometimes returns are selected based solely on a statistical formula. Your tax return is compared against “norms” for similar returns. These “norms” were developed from audits of a statistically valid random sample of returns, as part of the National Research Program the IRS conducts. The IRS uses this program to update return selection information.
Related examinations – Your returns may be selected when they involve issues or transactions with other taxpayers, such as business partners or investors, whose returns were selected for audit.

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What do You need to provide?

The IRS will provide you with a written request for the specific documents they want to see.

How far back can the IRS go to audit my return?

Generally, the IRS can include returns filed within the last three years in an audit. If they identify a substantial error, they may add additional years.

How long does an audit take?

The length varies depending on the type of audit; the complexity of the issues; the availability of information requested and of course, the professional experience of those you have on your side.