July

Respond in a timely fashion to IRS requests for documents and information. If the IRS believes an adjustment to your tax return is necessary, the agency will start asking questions via IDRs. Prepare a complete response to every item in the IDR and ensure that you reply by the deadline in the request. Always send your responses to the IRS using a delivery confirmation service. How you handle yourself during the audit can have a huge impact on your audit outcome. The following items should be considered during an audit: If you agree with the audit results, make payment arrangements. If you agreed with the audit findings and received a “no change” letter, congratulations. If you agree with the audit findings but those findings contain proposed adjustments to your tax return, you will be asked to sign the examination report that contains the IRS’ proposed adjustments. If the adjustments result in a balance due, you can seek a payment arrangement that best suits you. Various payment options include but are not limited to full pay, installment agreements, partial payment plans, offers-in- compromise and currently not collectible. If you disagree with the audit results, appeal to the appropriate venue. If you disagree with the IRS’ findings, the agency will issue a “30-day letter” that allows you 30 days to appeal. The Appeals Office is separate from and independent of the agency’s Examination and Collection functions. After 30 days, the IRS will send you a statutory Notice of Deficiency, which closes the tax audit and allows you to petition the U.S. Tax Court to resolve the issue. Unless you are a master at IRS procedures, it is highly recommended that you do not dine in at Café IRS alone. Get a licensed tax professional to represent you and advocate your tax return positions before the IRS. Jerrika Anderson is a former IRS attorney with substantial experience litigating tax disputes for both the IRS and now as a private practitioner at Chamberlain Hrdlicka in Atlanta, GA, representing business and individual taxpayers. You can reach her at Jerrika.Anderson@chamberlainlaw.com or (404) 658-5469.

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HOSPITALITY NEWS JULY | Page 21