IRS Audit Reconsideration: A Guide to Getting Your Application Right When you get audited by the IRS, you face two options: to accept or challenge the results of the IRS audit process. There’s the provision for apply for audit reconsideration when you’re disputing the tax IRS says you owe. Should your request be granted, your audit with the IRS gets reopened. 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 When reconsideration of your IRS audit indicates particular circumstances to be true, the IRS the mandate to abate its assessment in full or part. 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. When the evaluation is marred with errors or illegalities, relief is also possible.
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Yet, the IRS will not carry out an audit reconsideration in case you’ve already signed a deal, agreeing to pay the amount owed, for example 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. For starters, you must file returns for the subject tax year. And if available, send a copy of the audit report too. Equally important, include the changes you’re submitting for reconsideration. Don’t forget to include a memorandum detailing the relevant facts and laws that apply. As you proceed, just know that audit reconsideration is not a legally guaranteed right to the tax payer, rather, it’s accepted totally at the discretion of the tax authority. In your application, you must give your position on the basis of the law while providing relevant evidence. The implications following an audit reconsideration request may not turn out as anticipated without sufficient facts to back your claims. Normally, the IRS hold ups any collection activity after it has received an audit reconsideration request, although it does not have to do this under the law. 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. To better your odds, consult an accountant while you’re applying for IRS audit reconsideration.