James Pickett shares tips for preparing for an IRS Tax Audit in a recent article published by CPA Practice Advisor. The article outlines the process for advising clients who have received an IRS audit notice as 1 in 160 individual taxpayers are audited and approximately 1 in 12 for returns reporting more than $5 million in gross income. Pickett discusses preparation, the audit process and handling the auditor in terms of disputing the results or negotiating an agreement. “As you know, the IRS agent doesn’t have the last word. If you disagree with the findings, you have four basic avenues to dispute the matter,” says Pickett. To read the full article, please click here.
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Bennett Thrasher LLP has a Tax Controversy Practice that helps clients resolve IRS matters prior to the litigation stage. This includes helping clients manage IRS tax disputes involving both field and correspondence audits; post-audit issue resolution, including representation in IRS appeals; penalty and collection notices; claims; and other tax compliance-related matters. For more information contact James Pickett, Director of Tax Controversy, by calling 770.396.2200.