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202-349-4033


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What You Need to Know If the IRS Conducts an Audit of Your Washington, DC Small Business!

Posted in Hot Topics on July 22, 2019 | Share

     An Internal Revenue Service (“IRS”) small business audit is a review of an organization’s accounts and other financial information. During the examination, the auditor assigned to the case will check to see if the small business has reported taxable income, losses, expenses, and deductions in compliance with the federal tax laws. The IRS conducts small business audits for a variety of reasons. While some IRS small business audits are triggered by certain financial activities, others can be completely random. As a Washington, DC small business owner, this may seem intimidating, but with the assistance of an experienced Washington, DC Tax Attorney, an IRS small business audit does not have to be daunting or overwhelming. Managing Partner Kevin E. Thorn has handled hundreds of IRS audits for a variety of different types of clients over his 20 plus year career. He has helped small businesses save millions of dollars, as well as the hassle and worry that an audit brings to a small business owner.

     Regardless of the circumstances in which you find your small business, an IRS audit should be taken seriously. With any IRS small business audit, there are risks that you should consider, including the potential for the IRS to determine that you owe additional taxes and penalties that were not initially found. An additional investigation may seem harmless, but without an adequate level of preparedness and a former IRS attorney guiding you through it, you may find yourself in a very difficult and financially dangerous situation, and even a possible criminal investigation.

     Please keep in mind that allowing a CPA rather than an experienced Tax Attorney to handle your IRS small business audit is a risky move. Working with an experienced team of attorneys assures that you have attorney-client privilege during this sensitive time. It’s imperative that you can share your small business’ tax and financial information with an attorney who can guarantee an appropriate level of protection during your audit. A CPA is not legally bound to keep this information confidential. If you decide to hire a CPA for an eggshell IRS audit of your small business, this could do you more harm than good during this stressful time. Managing Partner Kevin E. Thorn and the tax attorneys of Thorn Law Group have the experience you need to help you feel secure during your company’s IRS small business audit.

What Should You Expect During Your Business’ Tax Audit?

    Small businesses selected for an audit are notified via a letter from the IRS or during a visit from the IRS. Once notified, the audit is typically conducted through the mail or, in some instances, completely through in-person interviews. Throughout this process, having the right documents and information necessary for the auditor is crucial to the outcome of the IRS audit. Any irregularities or failure to provide the right information during an audit can have serious repercussions for you and your Washington, DC small business. An experienced and hard-working attorney is a must if you want to have a successful audit.

Thorn Law Group Has Provided Counsel for Hundreds of IRS Audits

     Kevin E. Thorn knows how to protect Washington, DC small business owners and has been doing so for years. With more than 40 years of experience, the partners of Thorn Law Group can help you with any of your complicated tax issues. Thorn Law Group understands your rights as a small business owner and will work tirelessly to protect them. If you find yourself or your business being audited by the IRS, don’t hesitate to call Mr. Kevin E. Thorn, Managing Partner of Thorn Law Group at 202-349-4033, or visit www.thorntaxlaw.com to learn how Thorn Law Group can help you.

 

 

 


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"Mr. Thorn and the attorneys at Thorn Law Group were so knowledgeable about the IRS Voluntary Disclosure Program and about the way the IRS Criminal Investigation Division works. Mr. Thorn helped put my mind at ease and walked me through the whole Voluntary Disclosure process. With the help of Thorn Law Group, and Mr. Thorn specifically, we were able to get back into compliance and were able to avoid criminal prosecution."