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Receiving a notice from the IRS or a state tax authority for a personal tax audit can be stressful and intimidating. Whether the audit is due to discrepancies in your tax return, reporting issues, or simply a random selection, it’s essential to have an experienced team on your side to protect your rights and guide you through the process.
At Smart and Protax, we provide specialized personal tax audit services for individuals in California, New York, New Jersey, Florida, and Pennsylvania. Our dedicated professionals are committed to delivering tailored solutions to resolve your audit efficiently and effectively.
• High-Income and Self-Employment Audits: California often targets high-income individuals and self-employed professionals for audits. We specialize in addressing issues related to income reporting, business deductions, and multi-state income.
• Real Estate Transactions: Whether it’s a primary residence sale, rental income, or capital gains from property transactions, we ensure your real estate activities are accurately reported and defended.
• Residency and Non-Residency Issues: We help clients navigate complex residency audits, ensuring that income is correctly allocated and minimizing the risk of double taxation for those with ties to multiple states.
• Residency and Domicile Audits: New York is known for its stringent residency audits, especially for individuals with homes or business interests in multiple states. We provide detailed documentation and representation to support your residency status.
• Investment and Income Allocation: For those with complex investment portfolios or multiple sources of income, we ensure accurate reporting and defend against audits focused on income allocation and capital gains.
• Charitable Contributions and Deductions: We help substantiate charitable deductions and other itemized deductions that may trigger scrutiny, providing necessary proof to support your claims.
• Partnership and S Corporation Audits: New Jersey audits often focus on business structures like partnerships and S corporations. We ensure accurate reporting and compliance with all state regulations.
• Property Tax Deductions: We provide guidance and representation for audits involving property tax deductions, ensuring that you receive all eligible deductions while maintaining compliance.
• Cross-State Income Reporting: For residents with income from other states, we assist in ensuring proper allocation and crediting, avoiding double taxation and minimizing audit risks.
• Federal Income Tax Focus: Florida residents may face federal audits related to income reporting, business expenses, or investment income. We provide expert representation to address any discrepancies and protect your interests.
• Business and Self-Employment Income: We help self-employed individuals and business owners in Florida navigate audits related to business income, deductions, and payroll compliance.
• Estate and Gift Tax Issues: For individuals dealing with estate or gift tax matters, we offer specialized support to resolve any IRS inquiries or disputes.
• State Income Tax Compliance: Pennsylvania audits often focus on state income tax compliance. We ensure that your income, deductions, and credits are accurately reported according to state rules.
• Local Earned Income Tax Issues: Many Pennsylvania residents are subject to local earned income taxes. We assist in ensuring compliance and defending against local tax authority audits.
• Real Estate and Property Tax Audits: Our team handles audits related to real estate transactions and property tax assessments, helping you navigate complex state and local regulations.
• Unreported Income: Failing to report all sources of income, such as freelance work, rental income, or investment gains.
• Large Deductions or Losses: Deductions or losses that are unusually high compared to your income level, such as charitable contributions, business expenses, or casualty losses.
• Discrepancies in Information: Mismatches between the information reported on your tax return and what the IRS receives from other sources, like employers or financial institutions.
• Self-Employment and Small Business Income: Self-employed individuals and small business owners are often audited for issues related to income reporting and business expense deductions.
• Annual Tax Reviews: We offer pre-filing tax reviews to identify potential audit triggers and ensure that your tax return is accurate and complete.
• Compliance Advising: Ongoing guidance on best practices for tax compliance, including record-keeping and documentation strategies.
• Audit Risk Assessment: We analyze your financial situation and tax return to assess your audit risk and provide recommendations to minimize potential issues.
Navigating a personal tax audit requires a deep understanding of both federal tax laws and state-specific regulations. Our team’s extensive knowledge of the tax codes in California, New York, New Jersey, Florida, and Pennsylvania ensures that we can address any audit issue comprehensively, minimizing the risk of additional liabilities.
Thorough Pre-Audit Review: We conduct an in-depth analysis of your tax returns, financial records, and supporting documentation to identify potential red flags and prepare a robust defense strategy. IRS and State Communication Management: We manage all communications with the IRS or state tax authorities on your behalf, ensuring that all correspondence is handled professionally and promptly. Documentation and Substantiation: Our team assists you in organizing and presenting the necessary documentation to support your tax positions, reducing the chances of adjustments and penalties. Audit Negotiation and Settlement: If discrepancies or disagreements arise during the audit, we negotiate directly with auditors to seek favorable resolutions, including reduced penalties or alternative settlement options.
Navigating the tax landscape can be daunting for many individuals and businesses. The complexity
In the ever-evolving landscape of business management, outsourcing has become a strategic tool for
Taxes can be a complex and overwhelming topic for many individuals and businesses. However,
We are dedicated to providing comprehensive tax and business services that ensure our clients navigate the complexities of taxation and regulatory compliance with ease under one roof.