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Tax advise

Discussion in 'The Lounge' started by clarkjw24, Sep 8, 2006.

  1. clarkjw24

    clarkjw24 1/2 ton status GMOTM Winner

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    I need some insight on taxes. For the first time in 4 or 5 years I went and let a private tax service do my 05 taxes. Well I got a decent return, about 1400 more than I had been getting myself in recent years. Today I got a letter from the IRS saying that I was being audited and need to come up with proof of what was claimed on my taxes. The numbers the IRS had were very different than what I presented to my tax preparer. I didn't look over the forms when I sent them off, this person is used by many people. What should I do? Is it all on me?
     
  2. ryan22re

    ryan22re 1/2 ton status

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    I'd go back and raise hell with the tax service that prepared your taxes.

    Then ask them for help. Thankfully I've never been audited before.
     
  3. 4by4bygod

    4by4bygod 1/2 ton status

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    take the IRS letter to your tax service, and go over it together. the tax service should represent you throughout the auditing process.

    One thing I do know is that you are within your rights to have the IRS spell out specifically what the problem is, and you are only then obligated to furnish information pertinent to the issue...the idea is to limit how much info you are givng them, so they don't turn one issue into a major fishing expedition..

    As an aside, adjust your witholding so you don't get a refund.. invest the extra money into a cd.. thanks to compounding interest you'll have more money by year end than you would from just the refund check alone..

    Tom
     

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