Ease the Burden of an Audit with a Tax Audit Extension
Dealing with an audit from the IRS is everyone’s worst nightmare, but it doesn’t have to cause sleepless nights when you file for a tax audit extension.
Although you’ll still be required to jump through all the hoops that the IRS requires, an extension will allow you the time you need to get all your ducks in a row. Unfortunately, obtaining an extension isn’t always easy. Auditors with the IRS want nothing more than to file your case away as quickly as possible. In some cases, auditors will give you just a few weeks to provide them with the information that they require.
Add to this the fact that the IRS only has three years after the due date of your return to complete an audit, with the ability to go back just six years for substantial errors, and you can see why auditors are on such a tight deadline.
If you’re being audited and you’re running out of time, it’s important that you seek out the help of a certified public accountant.
Let someone else deal with the IRS
Did you know that professional auditors with the IRS have a full 28 months to complete your audit? The trouble is, auditors aren’t always very forthcoming. That’s why it is so important to leave dealing with the IRS to an experienced professional.
In addition to offering tax audit help, a professional CPA will work with the IRS to file a tax audit extension. A proper audit that takes place within a reasonable time frame can mean the difference between owing the IRS thousands of dollars or nothing at all.
Hire a team of experienced, knowledgeable professionals
Don’t trust your financial future to just anyone. Choose a team of experienced, knowledgeable professionals to ensure that your tax audit extension goes off without a hitch.
In order to provide the very best CPA services, a quality firm will stay up-to-date on all the latest developments, which includes involvement in a number of national and state professional accounting organizations:
- AICPA, Private Companies Practice Section (PCPS)
- AICPA, Tax Practice Section
- California Society of Certified Public Accountants
Don’t panic because the deadline for your audit is nearing. Ask us to help you obtain a tax audit extension.
Tax audit extension FAQ
Why file for a tax audit extension?
Getting audited by the IRS is extremely stressful, so having the extra time to gather documents can give you the breathing room you need. In addition, finding the necessary documentation can be a bit of a challenge. You may not be able to assemble the documentation you need before the audit is scheduled to be completed. An extension allows you the time to assemble the right information the first time.
What if I don’t have the information that they request?
If you don’t have the information that the auditor requests, it’s probably a good idea to file for an extension. In many cases, you can assemble various other documents that provide the same information as the requested document, but finding the right documents may take some time. Hiring the help of a professional CPA can speed up the process.
How will I know when the audit is complete?
Generally, the IRS communicates through the mail. You will never receive a phone call from the IRS, except under very rare circumstances. It may take up to a few months in order to receive a response. You will receive one of the following in the mail:
- A letter stating that the claim has been accepted as filed
- A letter stating that the claim has been denied
- A Notice of Proposed Assessment, which means additional tax is owed
- A Notice of Over Assessment, which means a refund is owed to you
What if my claim has been denied?
You still have options if your claim has been denied. You have 60 days to submit a written protest. A new deadline will also have been created for assembling any addition information that you might want to submit. Speak with your CPA about additional documentation that could be sent to better argue your claim. In some cases, you may want to consider enlisting the help of an attorney with experience in this area, but make sure you talk to your CPA first.
Can I request more than one extension?
Depending on your situation, you may be able to file multiple extensions. If you keep an open line of communication with the IRS and show good faith by following procedures, you’ll likely be able to submit your information with multiple extensions. However, it is extremely important to do it the right way, which means speaking with your tax professional. They may also be able to help you gather the information without the need for an additional extension.