Being audited by the IRS can be extraordinarily unpleasant, especially if the Revenue Agent believes you have committed tax fraud. Did you know that Revenue Agents are trained, not only to detect fraud, but to gather evidence that the IRS may not presently possess – and this evidence can and will be used against you? Remember that tax evasion is a serious crime, and if you’re convicted, you could be incarcerated in a federal prison. If you’re being audited in any of the New York IRS offices, you need to take this process seriously.
An audit is like any other legal proceeding, that is to say, you have the right to be represented. However, unlike a typical court of law, in this forum, you can be represented by a CPA, Enrolled Agent or a licensed Attorney. Unfortunately, the IRS won’t tell you when you’re being criminally investigated, or that the limited Accountant-Client privilege is not applicable in criminal cases. As such, the Government can compel your accountant to testify against you. In short, the IRS is looking for under reported income and overstated expenses. Audits usually begin with a single year, and then increase into multiple year examinations. With this in mind, did you know that IRS Revenue Agents are specially trained to ask probing questions and to obtain more information than you are legally required to provide? If you’re not careful or you’re too quick to cooperate this “voluntarily obtained information” that you so generously provided, may be your first step towards the Big House.
For a free consultation on your tax recourse and tax audits, contact the professionals at Selig and Associates.
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