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In a recent interview, leading tax lawyer Benjamin Goldburd, partner at Goldburd McCone Attorneys, LLP in New York, NY, has just revealed how a business owner can survive an IRS tax audit.For more information please visit https://www.goldburdmccone.com
When asked to comment, Goldburd stated, “Receiving an IRS notice stating that you will be audited can be daunting for any business owner, however, this process is much easier with all the correct information at hand even if penalties are unavoidable.”
Understanding the type of IRS audit, according to Goldburd, "is crucial in determining your correspondence with tax authorities."
“The three types of audits are correspondence, office, and field audits. With correspondence audits, you will need to mail in any requested documents. But office and field audits will require a meeting with tax authorities.”
Once you understand the type of IRS audit and required documentation requested, the person involved should begin preparing and collecting vital tax records.
When asked to elaborate, Goldburd said, “What many people fail to realize is that tax authorities can often impose fines for poor record keeping, so it’s always a good idea to contact your tax preparer or advisor to acquire business tax records.”
To help avoid unnecessary fines during the audit, Goldburd advises that, "you should organize your tax records by type and year and acquire any missing documents by all means possible such as requesting credit or debit card statements from vendors."
“No matter which type of IRS audit a business falls into, the process itself is somewhat straightforward. You’ll receive a notice, you get all the required information, submit that information to the IRS by a certain date, and the IRS will issue a determination,” he added.
However, Goldburd said, "tax audits are rarely that simple. Hiring a legal representative can significantly help you throughout the entire process."
“You can hire any sort of tax professional such as a CPA or tax preparer for an IRS audit, however, choosing a tax attorney means that your information will remain confidential. A tax lawyer can also meet with a tax auditor on your behalf, easing the pressure for many in dealing with the IRS.”
This process has yielded results for Goldburd McCone Attorneys.
When asked to explain, Goldburd said, “We appealed to the US Tax Court on behalf of our client whom the IRS claimed owed $250,000 in additional tax. We were able to prove legitimate business expenses, and our client was not responsible for paying for what the IRS claimed they owed.”
Source: http://RecommendedExperts.biz
Contact Info:
Name: Benjamin Goldburd
Email: Send Email
Organization: Goldburd McCone LLP
Address: 42 W 38th St #901, New York, NY 10018, USA
Phone: 212-302-9400
Website: https://www.goldburdmccone.com
Source URL: http://RecommendedExperts.biz
Release ID: 411346
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