Tax Audit in Waterbury, Connecticut

Find the right Tax Audit attorney in Waterbury, CT

Tax Audit Lawyers in Waterbury

A "tax audit" in Connecticut is the process by which the proper tax authorities (either the IRS, at the federal level, or its state equivalent) investigate a tax filing in more detail than they do for ordinary filings, typically because there appears to be a discrepancy, or some other suspicious item, in somebody's tax returns. However, the IRS (and state tax authorities) sometimes do rounds of random audits, where they audit taxpayers at random, without necessarily suspecting them of any wrongdoing.

The actual procedure involved in a tax audit in Waterbury, Connecticut is typically fairly straightforward. If you hare chosen for an audit, you will receive a letter in the mail telling you as much. Before responding, it's crucial for you to make sure that the letter is authentic, because there are scammers who send fake audit letters to innocent victims, in an attempt to extort money out of them. You should search the Internet for the name of the organization that the letter claims to represent, and call them using the contact information on their website, and confirm that you are truly being audited.

Once you have confirmed that your audit is authentic, you will be required to meet the auditor at an agreed-upon time and place. The auditor will typically inform you about what documents and other evidence you need to take to the meeting. At the meeting, they will ask you a long series of questions about your taxes, to clear up the thing they're uncertain about.

Reasons For a Tax Audit in Waterbury, Connecticut

There are several reasons why the federal government, or the government of Connecticut may want to audit a taxpayer.

As discussed earlier, tax audits can be conducted at random. Apparently, the government doesn't have the resources to audit every taxpayer under their jurisdiction. But, by conducting a substantial number of random audits each year, taxpayers are, in theory, discouraged from cheating on their taxes, because they know that they might be audited randomly. If you are chosen for a random audit, and have done everything right, you almost certainly have nothing to worry about.

However if the IRS or other tax agency suspects actual wrongdoing by a Waterbury, Connecticut taxpayer, that's a different matter. There are several different reasons why a government might decide to audit a taxpayer. The most typical one is suspicion that they have underreported their income. If a taxpayer buys a considerable number of expensive luxury items, but reports little or no income on their tax returns, the government will definitely want to know where the money to buy all those things came from, and why it hasn't been declared as taxable income.

Claiming an unusually-high number of deductions is another prevalent reason for tax audits in Waterbury, Connecticut. A tax deduction is some expenditure that you can subtract from your taxable income, thereby reducing your tax liability. If you claim such a massive number of deductions that your tax liability has been reduced to almost nothing, the IRS will probably want to make sure that all of these deductions are valid.

How Can A Waterbury, Connecticut Tax Lawyer Help?

If you experience an audit in Waterbury, Connecticut, and believe that you have properly reported all of your income on your tax filings, it will probably go fine. And if there is anything wrong with your filings, it was likely the result of an honest mistake, and auditors are generally sensitive to this fact. In such cases, the penalty is typically light. It will probably be little more than a requirement that you pay back taxes and interest.

However, if the situation is more convoluted, you may need to hire a Waterbury, Connecticut tax attorney. A tax attorney can help you through your audit, and make sure it goes as smoothly as possible.

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Life in Waterbury

Waterbury is located in New Haven County in the state of Connecticut. Waterbury, Connecticut has a population of about 111,000 and is noted for being the 5th largest city in the state.

Waterbury is commonly known as the "Brass City", due to its heavy production of brass throughout the decades. It was the leading producer of brassware in the U.S. during the early 20th century. In particular, Waterbury industries produced much of the brass casting and finishing in America. It is also a leading manufacturer of brass clocks and watches.

Currently, Waterbury, Connecticut offers numerous opportunities for residential housing, retail shopping, and employment. For example, the Brass Mill Center is a modern shopping complex that features nationally-known retail stores and restaurants. It also houses a cinema that shows feature films. Also, Main Street in Waterbury is an area dedicated to both historic preservation and downtown revitalization. It is host to a number of community events and business developments.

Waterbury Judicial District Courthouse is a major landmark in the city. Many Waterbury lawyers assist their clients by filing legal claims at the courthouse. Lawyers in Waterbury, Connecticut provide legal services in a diverse spectrum of legal fields.

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