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IRS Tax Audits Chandler AZ

IRS Tax Audits

Unfortunately, you may receive a notice from the IRS that they intend to perform a tax audit on your records. These audit notices aren’t necessarily based on anything you’ve done but can be an overwhelming experience nonetheless. That’s why LBS Tax is here with licensed professionals to help residents and business owners in and surrounding Chandler, AZ, handle IRS audits with confidence.

Gathering Data

Preparing for potential IRS audits is necessary during your initial consultation by organizing your financial records. Instead of presenting a disorganized stack of receipts and documents, trust LBS Tax & Accounting, a professional tax firm, to assist you in gathering and organizing the necessary information. Our range of services includes expert assistance with tax issues and meticulous preparation of financial statements. By partnering with us, you’ll make a positive impression on your auditor and reduce the risk of facing a more extensive audit. Explore our comprehensive business tax services today to ensure your financial records are in optimal shape for any IRS scrutiny.

For your audit, you need the following records and information:

  • All electronic records- these records include credit card and bank statements with pertinent information on them.
  • Financial records– these should be in printed form, and we can assist you in compiling the statements if needed.
  • Bank Records– If you still receive a monthly report from your bank in the mail, be sure to keep these as an auditor will ask for them.
  • Receipts– You should keep receipts for business expenses with notations that justify the expense for your company, including dinner receipts, receipts for office supplies, and any other business-related purchases.
  • Auto Mileage– If you count your business miles, you should record those miles in a journal or some diary to prove to the auditor that they are justified.

Penalty Abatement

Irs Tax Audits Near Me Chandler Az

Dealing with the IRS can be stressful, especially when facing penalties due to tax audits. Fortunately, our Penalty Abatement service at LBS Tax & Accounting can help alleviate this burden. Penalty abatement is the process of reducing or eliminating IRS penalties assessed on your tax debt. Whether penalties have been incurred due to late payments, underpayment of taxes, or other reasons, our experienced team is here to assist you.

How Penalty Abatement Works

  1. Assessment: We’ll assess your tax situation to determine the penalties imposed and the reasons behind them.
  2. Evaluation: Our team will evaluate your eligibility for penalty abatement by reviewing factors such as your compliance history, circumstances surrounding the penalties, and any reasonable cause arguments.
  3. Negotiation: We’ll negotiate with the IRS on your behalf, presenting your case for penalty relief based on valid grounds such as financial hardship, ignorance of tax laws, or circumstances beyond your control.
  4. Resolution: If successful, we’ll work to secure a reduction or elimination of the assessed penalties, providing you with much-needed relief from additional financial strain.

Why Choose Penalty Abatement with LBS Tax & Accounting

  1. Expert Guidance: Our knowledgeable team understands the intricacies of penalty abatement and will navigate the process efficiently on your behalf.
  2. Personalized Approach: We tailor our services to your specific circumstances, ensuring your penalty abatement strategy is customized to meet your needs.
  3. Peace of Mind: With LBS Tax & Accounting handling your penalty abatement, you can rest assured that your interests are being represented effectively, allowing you to focus on moving forward confidently.

Don’t let IRS penalties weigh you down. Contact us today to learn more about how our Penalty Abatement service can help mitigate the financial impact of tax audits and ensure a brighter financial future for you or your business.

Contact LBS Tax Services Today

IRS tax audits can be daunting, but you don’t have to navigate it alone. At LBS Tax, our team of tax professionals is here to provide the support and guidance you need to handle the audit process confidently. From gathering essential data to navigating penalty abatement, we offer a wide range of services tailored to your needs. Don’t let tax issues overwhelm you—partner with our licensed tax professionals in Chandler, AZ, today and ensure your financial records are in optimal shape for any IRS scrutiny. Contact us today to schedule your initial consultation and take the first step towards a brighter financial future!

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