Abstract
The nine most terrifying words in the English language are, “I’m from the government and I’m here to help.”
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Notes
- 1.
You can find a list of some of the more common IRS CP notices at http://www.irs.gov/Individuals/Understanding-Your-IRS-Notice-or-Letter .
- 2.
The most likely form is Letter 2257C, a balance due notice to a taxpayer.
- 3.
The very largest corporations are audited for every tax year.
- 4.
IRS Publication 1, “Your Rights as a Taxpayer,” http://www.irs.gov/pub/irs-pdf/p1.pdf .
- 5.
Either IRS Publication 3498, “The Examination Process,” http://www.irs.gov/pub/irs-pdf/p3498.pdf , or IRS Publication 3498-A, “The Examination Process (Examinations by Mail), http://www.irs.gov/pub/irs-pdf/p3498a.pdf .
- 6.
Only attorneys, CPAs, and Enrolled Agents have the right to represent any taxpayer in an examination with the IRS or other tax agency.
- 7.
The examiner’s manager does have to approve the audit expansion. However, I’ve never seen an audit where the manager objected to an audit expansion.
- 8.
There is generally a three-year statute of limitations on tax returns (three years from the due date of the return or date of filing, whichever is later). Years where the statute of limitations has not expired are considered open years.
- 9.
Named for United States v. Kovel, 296 F.2d 918 (2nd Cir., 1961).
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© 2013 Russell Fox
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Fox, R. (2013). Dear Valued Taxpayer: When You Hear from the IRS. In: Tax Strategies for the Small Business Owner. Apress, Berkeley, CA. https://doi.org/10.1007/978-1-4302-4843-9_17
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DOI: https://doi.org/10.1007/978-1-4302-4843-9_17
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Publisher Name: Apress, Berkeley, CA
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