IRS determination was a no deficiency in income tax due but now we have to pay just about as much in Tax-Examination audit preparation & representation fees for professional services rendered. Originally we paid the tax preparer an Insurance fee to represent us in the event of an Audit.
2006-11-20 09:03:44 · 4 answers · asked by Janice S 1 in Business & Finance ➔ Taxes ➔ United States
If you purchased insurance to cover representation in an audit, the insurance contract should spell out what fees if any you are required to pay. Without knowing more about the audit and the original contract, your question can't be answered.
2006-11-20 10:53:37 · answer #1 · answered by STEVEN F 7 · 1⤊ 0⤋
Your tax preparer only takes the documents you grant and inputs it into the equations. sure, they do propose to jot down this off or do no longer do this, yet as far as them being answerable on your audit.......NO. IRS seems for specific issues and you prob had something that only did no longer look precise. in case you do each little thing by utilising the books and you have a stable accountant, you will finally end up only wonderful. extra of a hassle than something. My accountant supplies us suggestion on some issues.........in case you're a business enterprise proprietor attempt to be the optimum paid individual or it seems suspicious. in case you commute or food cost is only too extreme for the dimensions of business enterprise you're, that is catching the IRS's eyes......or probably the mileage. stable success
2016-11-25 21:41:43 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Yeah, listen to Skip....
Although most of the insurance packages you buy cover what is owed to the IRS after the audit. Sorry!
2006-11-23 16:13:16 · answer #3 · answered by sylvrrain 2 · 1⤊ 0⤋
Steven F has given you the only possible answer to this question. Give him the ten points now and save yourself the idiotic answers.
2006-11-20 23:52:20 · answer #4 · answered by skip 6 · 0⤊ 0⤋