It goes without saying that the IRS is nothing to trifle with. You could fill entire libraries with the countless pages of tax code, and it’s a very tall task to comply with every single little law and legislation with your business. Not to even mention the fact that tax code changes every single year, with thousands of new pages added and tens of thousands of changes to existing code.
So when you run into issues with post payment audits, you need help. Here are some things you can do.
Understand What They Are
First up, you have to understand what they are. Unfortunately, there’s no easy answer here. You will have to look into the matter and see how they affect your tax bracket, business, how they work in your state, etc. Your accounts are reviewed for payment accuracy, vendor credits, discounts, etc, so it’s a lot to keep up with.
Build Compliance for the Future
The idea in you understanding these audits is to build compliance for the future. What’s done is done, and you may need help dealing with an existing audit. Though by understanding the process, you will not have to deal with them in the future. That’s important.
Find an Expert in the Field
For your existing audit, you cannot go down to any old tax office. They may be great with getting you refunds, but these audits are on another level. Find a reputable expert in the field.
When you’re ready to get real help for these audits, check out Belmero and see how they can help.