Tax Audit in Wayne, New Jersey

Find the right Tax Audit attorney in Wayne, NJ

Tax Audit Lawyers in Wayne

A "tax audit" is a procedure in Wayne, New Jersey where the tax authorities investigate a taxpayer's (whether the taxpayer is a person or corporation) filings when it looks like there's some kind of discrepancy. However, many state and federal tax audits are the result of random selection, when the authorities don't necessarily think that a taxpayer has deliberately evaded their taxes.

The actual procedure involved in a tax audit in Wayne, New Jersey 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 receive the letter, and confirm its authenticity, you will have to meet with an auditor at the time and place stated in the letter, and subsequent communications with the auditor. The auditor will tell you what documents and records you need to bring to the meeting. They will then ask you some questions to clear up whatever discrepancy they found in your tax return.

Reasons For a Tax Audit in Wayne, New Jersey

Tax Audits in New Jersey can occur for a wide variety of different reasons.

As mentioned above, an audit can happen simply because a person was chosen for an audit at random. If you are randomly chosen for a tax audit, and you have been forthright and diligent in collecting your tax documents, it will probably be a quick, painless process, and you likely don't have anything to worry about.

On the other hand, some taxpayers in Wayne, New Jersey are audited for a particular reason, rather than being drawn at random. If the tax authorities believe that you have underreported your income, that is a very recognized reason for a tax audit. For instance, if you claim on your tax return that you make ,000 per year, and, in the same year, purchase an expensive luxury item, the tax authorities will wonder where you got that extra money, and why you're not paying taxes on it.

Likewise, trying to deduct a large percentage of your income is likely to raise suspicions. A tax deduction is a way to reduce one's tax liability by making some of one's income non-taxable. Some customary sources of tax deductions in Wayne, New Jersey are business expenses and charitable donations. Some people, however, try to include false deductions in their tax returns (trying to deduct charitable donations they never truly gave, for example). A massive number of deductions will be highly suspicious to the tax authorities, and they will want to see evidence to support every deduction you claim, if you're audited.

How Can A Wayne, New Jersey Tax Lawyer Help?

If you are audited in Wayne, New Jersey, and believe that you have done everything right in collecting and filing your tax return, you probably don't have much to worry about. If there is anything wrong with your tax return, it was probably the result of an honest mistake, which will result in light penalties - typicallyy just an order to pay any back taxes you owe, plus interest.

However, there are some tax audits where the underlying facts are much more confusing than a simple misunderstanding. In these cases, a good tax attorney in Wayne, New Jersey may be necessary to ensure that the process is as painless as it can possibly be.

Talk to a Tax Law Attorney now!

Life in Wayne

Wayne New Jersey is a beautiful Garden State city located just fifteen miles from midtown Manhattan -- making it a perfect city for the city worker to live in. With a population of over 55,000, it looks like many people may be doing just that! The city of Wayne has also been listed on the Top 100 places to live. Wayne is home to the Toys "R" Us corporate headquarters as well as the Valley National Bank headquarters. The city also houses the Ice Vault rink where many Olympians can be seen practicing on a regular basis. Wayne is home to a wide variety of activities for their residents to enjoy, including: recreational facilities, lake communities, a state university, and several parks.

Wayne is also a popular location for many lawyers to set up their practice. Specializing in a range of skills, Wayne lawyers are some of the top in the business and ready to help serve their client in whatever capacity he or she is needed! Wayne lawyers are just one more aspect that makes this city such a wonderful place to live in!

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