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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. You’re allowed to seek audit reconsideration when disagreeing with the taxes the IRS asserts you owe. Your audit with the IRS is reviewed when your application is successful. 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 situation is if the evaluation was completed after the expiration of the duration of limitation that applies. 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. Also, no tax audit reconsideration may be forthcoming when the U.S. Tax Court or another court has declared a final ruling regarding your tax liability.
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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 you have a copy of the audit report, submit it too. It’s also significant to set forth the alterations meant for revisiting. Never leave out a comprehensive memorandum pointing out the relevant facts and applicable regulations. While you’re at it, appreciate that audit reconsideration is not a matter of the tax payer’s legal right, but a request is honored totally at the IRS’s discretion. Your request should explain your stance and arguments based on the law without leaving out supporting evidence. The implications following an audit reconsideration request may not turn out as anticipated without sufficient facts to back your claims. Typically, the IRS delays collection processes once an audit reconsideration application has been received, although the law does require it to do so. 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.