The Internal Revenue Service recently announced that it is in the process of hiring 470 new Revenue Agents.
These newly hired Revenue Agents will specialize in performing individual and business tax return audits and will be assigned to the agency’s Small Business Self Employed (SB/SE) division. Here the Revenue Agents will use their knowledge of accounting and tax law to tax to audit returns, determine liability for both individual and business taxpayers including small corporations, partnerships, and fiduciaries. The Revenue Agents will also be responsible for identifying potential fraud, tax schemes and abusive tax shelters.
As such taxpayers, particularly those that are self-employed, would be prudent to expect an uptick in IRS audits and an increased chance that they may find themselves being audited.
Taxpayers have a right to legal representation during an audit.
As always Beige Law, PLLC is here and ready to help taxpayers solve their tax issues with the IRS or New York State. Contact us today and start resolving your tax issues.