RONALD MARK SEMARIA,  CFE, DABFE, FACFEI,CSC, CHS-III
 CERTIFIED FRAUD EXAMINER & FORENSIC ACCOUNTANT
 DIPLOMATE & FELLOW AMERICAN BOARD OF FORENSIC EXAMINERS
 FRAUD, TAX, MANAGEMENT & INVESTIGATIVE ACCOUNTANT
 FORMER INTERNAL REVENUE AGENT
 SPECIALIZING IN EMPLOYEE THEFT & EMBEZZLEMENT

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IRS-WHEN IT PAYS TO IGNORE AN IRS AUDIT NOTICE

 If you decide not to show up at the time and place requested in an IRS audit letter, you tacitly agree to pay the additional tax in question. But sometimes, that’s the smartest course of action.

 When it’s wise to stay home: if the issues the IRS questioned fall into a gray area that might be hard to prove, and those same issues appear on past tax returns as well as this one.

 By ignoring the letter, you agree to pay the extra tax on those items, but only for the tax year being questioned. Then it becomes a closed matter. By not showing up for the audit, you cut the chances of prior returns being checked for those same gray-area claims.

The following articles are for informational purposes only, and your should always consult with your tax advisor to determine the tax implications for your particular financial situation.

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