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The Right Way to Handle Your IRS Audit Reconsideration Application In case you’re audited by the IRS there are two possibilities for you: accept or contest the outcome of the IRS audit process. You’re allowed to seek audit reconsideration when disagreeing with the taxes the IRS asserts you owe. Should your request be granted, your audit with the IRS gets reopened. As you seek professional help with handling an IRS audit reconsideration request, here are insights to help you get it right: Circumstances Under Which the IRS May Abate an Assessment When reconsideration of your IRS audit indicates particular circumstances to be true, the IRS the mandate to abate its assessment in full or part. For instance, when the amount that an assessment says you owe is in excess of the correct tax liability, correction is inevitable. Another situation is if the evaluation was completed after the expiration of the duration of limitation that applies. In case of a mistake or illegality in the audit, you may be granted reprieve too.
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However, you may expect no IRS audit reconsideration after you’ve already committed to deal to pay the amount owed, for instance a closing agreement or offer in compromise. Also, no tax audit reconsideration may be forthcoming when the U.S. Tax Court or another court has declared a final ruling regarding your tax liability.
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Requirements for Requesting an IRS Audit Reconsideration There are requirements that a tax payer should satisfy prior to submitting a request to have their IRS assessment reconsidered. Firstly, you need to file returns for the tax year in question. And if available, send a copy of the audit report too. Equally important, include the changes you’re submitting for reconsideration. Don’t forget to include a memorandum detailing the relevant facts and laws that apply. As you proceed, just know that audit reconsideration is not a legally guaranteed right to the tax payer, rather, it’s accepted totally at the discretion of the tax authority. In the request, you must explain your position with arguments supported by the law and provide supporting facts. The outcome of an audit reconsideration request may not be favorable when you’re not including sufficient evidence to back your position. Typically, the IRS delays collection processes once an audit reconsideration application has been received, although the law does require it to do so. File an application for the revisiting of your IRS assessment subsequent to exhaustion of other options, like filing a petition. Your entire audit reconsideration filing must be prepared and presented in the exact style as an Appeals notebook. To better your odds, consult an accountant while you’re applying for IRS audit reconsideration.