Depending on how much time is needed to complete the audit, the IRS may move to lengthen the statute of limitations for assessing tax, which is normally three years. With regard to audits, extending the statute of limitations gives the IRS more time to assess tax.
A tax audit could probe three years back into your filing history, six years back into your filing history, or potentially even longer. If you are worried that you or your company may be at risk for being audited, or if you have recently received a letter from the IRS stating that you have been selected for a tax audit, the best and most effective course of action is to immediately bring the audit to the attention of an experienced CPA for guidance.
At Cook CPA Group, our knowledgeable team of accountants and consultants brings more than 20 years of experience to each tax matter we handle. Get a Free Consultation.
Auditing Services. Consulting Services. Proper record-keeping can help you resolve your IRS dispute, as well as reach a better outcome for your case. You deserve to have your tax rights protected. Speak with a Polston Tax Attorney who will provide tax advice and protect you from potentially having thousands of additional tax dollars added to your tax liability.
When you partner with Polston Tax, you will be fully supported by a seasoned tax professional with years of tax industry experience. Contact us today to get your life back in order and resolve your tax problems for good. So, how far back can the IRS audit you? The Three-Year Audit Based on the federal statute of limitations, the IRS can carry out an audit typically up to three years after you file your tax return.
A few points to keep in mind about due dates: If you file early before April 15 , the statute of limitations still runs three years after the federal due date — and not the tax filing date. If you apply for and receive an extension on your tax return from the IRS, the statute of limitations will run from the new filing date — which can be six months after the original due date.
If you filed late and did not have a filing extension, the statute of limitations starts running three years from the late filing date. This also includes inheritances and interest in overseas or offshore accounts. Request a free consultation with a dedicated tax attorney Having the statute of limitations extended on your tax return by an additional three years is far from ideal, but there is an even worse situation that you can be in.
Tax information center : IRS : Audits and tax notices. There are two answers to this question: the legal answer and the practical answer.
Legal answer: Three years First, the legal answer is in the tax law. Most audits start a few months after you file your return For these audits, the IRS is often freezing refunds. Other IRS audits generally start within a year after you file These are often mail and office audits related to questionable items on your return.
If the IRS asks you to meet in person or go to an IRS office, you should consider hiring a professional to represent you IRS audit procedures can be complicated and almost impossible to navigate successfully.
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