At the Tax Law Office of David W. Klasing, we frequently write about tax audits – and with good reason. Even with its operating budget at a low point, the IRS still manages to audit around 1 million individual and corporate tax returns every year, and no taxpayer is too small – or too successful – to be targeted. From college students and small family businesses, to celebrities, politicians, and Fortune 500 companies with billions of dollars in assets, no one escapes the IRS’ microscope (including its own employees). With the 2020 tax season quickly approaching, our IRS audit attorneys have rounded up three more reasons the Internal Revenue Service might choose you or your business for a federal income tax audit this year. For more tips on what to watch out for this tax season, read about these IRS red flags, or weigh your likelihood of being chosen for a tax audit in 2020.
See our Audit Representation Q and A Library
In our original article, we started with three common reasons the IRS will audit you:
Unfortunately, the audit triggers don’t stop there. In our follow-up, here are three more reasons to be worried about a federal tax audit this year – including some triggers you might not have known were actually IRS badges of fraud.
Now that you know about these dangerous audit traps, it will be easier to avoid falling into them during the 2020 tax season. However, the safest way to avoid tax errors and minimize penalties is to choose an experienced and reputable tax professional to provide you tax planning and tax compliance services and if that too little too late, with dedicated IRS audit representation.
Led by dually-licensed attorney-CPA and former public auditor David W. Klasing, our full-service tax firm provides everything you need to prepare for and survive an tax audit, including civil and criminal tax audit representation, IRS appeals representation, personal and business income tax preparation, bookkeeping and accounting services, tax compliance services, and cryptocurrency tax services. Contact us online right away to set up a reduced-rate consultation or call the Tax Law Office of David W. Klasing at (800) 681-1295 for 24-hour assistance.
In addition to our staffed main offices in Irvine, the Tax Law Offices of David W. Klasing has unstaffed (conference room only) satellite offices in Los Angeles, San Bernardino, Santa Barbara, Panorama City, Oxnard, San Diego, Bakersfield, San Jose, San Francisco, Oakland, Carlsbad and Sacramento.
Note: If you have concerns about the privacy of our initial or subsequent communication and are unable to easily travel to our Irvine / Orange County Main Office, consider scheduling a GoToMeeting to safely and securely establish an initial or maintain an existing attorney client relationship. With end-to-end encryption, strong passwords and top-rated reliability, no one is messing with your meeting. To schedule a reduced rate initial consultation via GoToMeeting follow this link. Call our office and request a GoToMeeting if you are an existing client. We are generally happy to travel to any of our appointment only satellite offices for a subsequent meeting in appropriate circumstances once a relationship is established via a signed engagement letter and the payment of an initial retainer or where enough retainer is available where a current client to cover the reasonable travel time and time required for the meeting.
Will it cost me more to hire the Tax Law Offices of David W. Klasing, who’s main office and the vast majority of the firm’s staff is located in Irvine California, but an appointment only Satellite office is close to my location, as opposed to a local company? Absolutely not! See our policies that address this issue here.