Tax Attorney Brian T. Loughrin successfully helps taxpayers stand up to the IRS.
Although the percentage for individual returns which receive an IRS tax audit is very low, many taxpayers are concerned that they will be audited. Attorney Brian Loughrin would like you to know that there are ways to survive an IRS audit, should that occur. We want you to understand, however, the "red flag" areas that are most likely to cause unwanted IRS attention.
What are Red Flag Audit Areas?
Red flag audit areas include:
- Claiming large charitable deductions, as this area has been taken advantage of in some cases
- The IRS can show interest in home office deductions. At times, people take improper amounts or do not factually meet the requirements for this deduction
- The IRS has copies of your income information and failing to report all taxable income is a type of tax crime
- Cash businesses are more prone to IRS scrutiny as it is felt they may not report all taxable income that is earned
- Taking deductions which are out of proportion to the income that you make
- Errors in math on your return are a common mistake that can lead to investigation by the IRS
- Large business meal, travel, entertainment and auto use deductions
- Not reporting an offshore or foreign bank account which can result in harsh penalties
- Your prospects for an audit increase as your income goes up, especially if you have a large swing upward in the amount of money that you make
The best way to avoid a red flag is for our office to work with you regarding the procedures to be used in accounting for your income and in the full preparation and filing of your returns. If you are to be audited, our office can represent you with the IRS, both in getting ready for the audit and throughout the process. You may not have to meet with or talk to the IRS at all!
The Stories That Matter
"Through his vast knowledge and negotiating skills, he was able to turn off the levy and negotiate an installment agreement."Dave Von
"Brian was great, he is very assuring, he made me feel like someone real was in my corner."Anonymous
"From the first meeting we knew you knew what to do to help get us out of our tax mess."T.R and B.R.
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