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The Right Way to Handle Your IRS Audit Reconsideration Application

In case you’re audited by the IRS there are two possibilities for you: accept or contest the outcome of the IRS audit process. You have the option of requesting audit reconsideration if you’re rejecting the taxes the IRS claims 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:

Conditions for Which the IRS May Withdraw an Assessment

The IRS is authorized to withdraw all or part of its assessment if certain conditions are found to be true after your audit has been revisited. 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 condition is when the assessment is completed past the expiration of the limitation period that applies. In case of a mistake or illegality in the audit, you may be granted reprieve too.
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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. Similarly, there will be no tax audit review when the U.S Tax Court or another court has already reached a conclusive determination regarding the taxes you owe.
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Preparing to Submit an IRS Audit Reconsideration Request

There are conditions that a tax payer has to meet before sending their request for a review of their IRS audit. First thing is to submit returns for the tax period in question. Additionally, submit a copy of the assessment report if you have it. Equally important, include the changes you’re submitting for reconsideration. 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. In your application, you must give your position on the basis of the law while providing relevant evidence. The outcome of an audit reconsideration request may not be favorable when you’re not including sufficient evidence to back your position. 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.

Send a request for the re-assessment of your IRS audit if other options, including filing a petition, are not viable. The complete audit reconsideration files ought to be prepared and submitted in the same way as an Appeals notebook.

To better your odds, consult an accountant while you’re applying for IRS audit reconsideration.