Tax Audit in Coral Gables, Florida

Find the right Tax Audit attorney in Coral Gables, FL

Tax Audit Lawyers in Coral Gables

A "tax audit" in Florida 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 unexpected audits, where they audit taxpayers at random, without necessarily suspecting them of any wrongdoing.

The actual process involved in a tax audit in Coral Gables, Florida 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 critical 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 obligated to meet the auditor at an agreed-upon time and place. The auditor will typically inform you about what documents and other proof 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 Coral Gables, Florida

There are various different reasons why the federal government, or the tax authorities of Florida might decide that a tax audit is warranted in your case.

A taxpayer can be chosen for an audit at random, even if the tax authorities don't suspect any wrongdoing. The idea behind these random audits is to keep taxpayers on their toes. So, if you are audited for this reason, and know that you've done everything thoroughly in filing your taxes, you will likely be fine.

On the other hand, some taxpayers in Coral Gables, Florida 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 frequent reason for a tax audit. For example, if you claim on your tax return that you make ,000 per year, and, in the same year, buy an expensive luxury item, the tax authorities will wonder where you got that extra money, and why you're not paying taxes on it.

If you claim such a considerable number of deductions that your tax liability is unusually low, you may well be subject to an audit in Coral Gables, Florida. A deduction is an allowable reduction in your taxable income, requiring you to pay taxes on a smaller portion of your income. Specific business expenses and charitable donations are customary sources of tax deductions. However, some people add invalid deductions to their tax returns to reduce their tax burden. If the IRS is suspicious about your deductions, you should make sure you have appropriate documentation to back them up.

How Can A Coral Gables, Florida Tax Lawyer Help?

If you find yourself being audited in Coral Gables, Florida, and are sure that you have done everything right in preparing your taxes, then the audit will likely be over rapidly, with no penalties imposed. In cases like this, if anything is found to be wrong with your tax return, it is likely the result of an honest mistake, and the auditor will be aware of this, and will likely give you an opportunity to correct your mistake, without suffering any penalties, with the possible exception of being made to pay interest on any back taxes you owe.

However, there are times when an audit is conducted to investigate far more significant issues. If you find yourself facing allegations from the IRS of serious wrongdoing, and believe yourself to be innocent, you should pursue the advice of a Coral Gables, Florida tax attorney immediately.

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Life in Coral Gables

Believe it or not, but Coral Gables is a city located southwest of Downtown Miami. When we all think of Miami, we think of South Beach, not the neighboring Coral Gables. However, about 42,249 people call Coral Gables home.

Some popular attractions in the area include the Miracle Mile, DeSoto Fountain, Coral Way Scenic Drive, Coral Gables Museum, Lowe Art Museum, and the Montgomery Botanical Center.

Since Coral Gables is a planned community, it is known for its strict zoning regulations. The city is very particular on what type of theme/atmosphere needs to be creating in what part. There via strict zoning regulations, residents must comply and aid the city in maintaining the desired look.

Coral Gables, being so close to Miami, has access to many law firms of all size, that practice in practically all areas. These firms train very competent attorneys to handle any and all legal matters. Thus, residents of Coral Gables can stay rest assured because any of their legal needs can easily be handled by the nearby legal force.

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