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The Right Way to Handle Your IRS Audit Reconsideration Application In case you’re audited by the IRS there are two possibilities for you: accept or contest the outcome of the IRS audit process. You’re allowed to seek audit reconsideration when disagreeing with the taxes the IRS asserts you owe. In case your request is accepted, your audit with the IRS is revisited. While you consult an expert for assistance looking into the possibility of IRS audit reconsideration, here’s information to help you get your application right: Factors Under Which an IRS Audit May be Abated If a review of your IRS audit reveals specific conditions to be true, the IRS has authority to cancel part or all of its assessment. A case in point is when the tax that an evaluation claims you owe exceeds the right tax obligation, in which case, correction is mandatory. Another scenario is in case the audit was done later than the expiration of the applicable window of limitation. In case of a mistake or illegality in the audit, you may be granted reprieve too.
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However, you may expect no IRS audit reconsideration after you’ve already committed to deal to pay the amount owed, for instance a closing agreement or offer in compromise. Likewise, expect no tax audit reconsideration in case the U.S Tax Court or another court has already delivered a final determination about your tax obligation.
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Preparing to Submit an IRS Audit Reconsideration Request There are requirements that a tax payer should satisfy prior to submitting a request to have their IRS assessment reconsidered. First thing is to submit returns for the tax period in question. And if you have a copy of the audit report, submit it too. It’s also significant to set forth the alterations meant for revisiting. Don’t forget to include a memorandum detailing the relevant facts and laws that apply. While at it, you should know that audit reconsideration is not a question of legal right to the tax payer, but it’s granted completely at the discretion of the IRS. In your application, you must give your position on the basis of the law while providing relevant evidence. The results of an audit reconsideration application may disappoint when no adequate evidence has been offered to support the tax payer’s claims. Usually, the IRS postpones any collection processes once it has received an audit reconsideration application, although that’s not a legal obligation for the authority. File an application for the revisiting of your IRS assessment subsequent to exhaustion of other options, like filing a petition. The whole audit reconsideration package should be prepared and delivered in the exact form as an Appeals notebook. So, get professional help with the filing of an IRS audit reconsideration request to stand a better chance.