Tax audits winding down
Friday, June 4th, 2010
We are winding down a year of tax audits of sole proprietors – that’s folks who have unincorporated businesses. Next coming from an IRS auditor near you will be audits of corporations. June 15th– the 14 new IRS auditors in the Knoxville office are going to training school in corporations. I expect to see a big push on corporate IRS audits. Can’t wait to see what nasty adjustments they try to make in the coming year.
Our track record for taxpayers we have represented in examinations has been good. Beyond the technical details, there’s an art to handling an audit to prevent the IRS from overrunning the taxpayer. We hope our success rate will be just as good with corporations later this year.