Tax Audit in Palm Bay, Florida

Find the right Tax Audit attorney in Palm Bay, FL

Tax Audit Lawyers in Palm Bay

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 random audits, where they audit taxpayers at random, without necessarily suspecting them of any wrongdoing.

The actual procedure involved in a tax audit in Palm Bay, 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 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.

After confirming that the audit you're facing is truly legitimate, there are a few things you can do to prepare. First, you should assemble all of the proper documents you have in your possession. This should include your tax return, W-2 forms, and records of any expenses that you claim as deductions. You should bring these documents, and any others that the auditor requests, to the meeting. At the meeting, the auditor will ask you a list of questions, which you should answer honestly and to the best of your knowledge.

Reasons For a Tax Audit in Palm Bay, Florida

There are plenty of reasons why Florida's government, or the federal government, might conduct a tax audit.

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.

But, some Palm Bay, Florida tax audits occur for a particular reason. This is typically because the IRS or your local tax authority suspects that you have not reported all of your income on your tax return. For example, suppose that, last year, you bought an expensive new luxury car. But say you only claimed ,000 in total income that year. As you might imagine, the IRS is going to be quite interested in finding out where the money for that car came from, and, if you have enough money to buy it, why you aren't paying taxes on that money.

It is also common to be audited in Palm Bay, Florida if you claim a massive number of deductions. A tax deduction is simply a legal subtraction from one's taxable income. Several different expenses, including charitable donations, interest paid on mortgages, and others, are deductible from one's taxes. If you claim so many deductions that you have negated almost all of your tax liability, you can bet that the government is going to be suspicious.

How Can A Palm Bay, Florida Tax Lawyer Help?

If you are audited in Palm Bay, Florida, 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 times when an audit is conducted to investigate far more serious 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 Palm Bay, Florida tax attorney immediately.

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Life in Palm Bay

Palm Bay, Florida is the largest city in Brevard County. Its population is approximately 101,000 as of a 2008 Census estimate.

The earliest European settlers to arrive in the area now known as Palm Bay showed up in 1850, building homes along Turkey Creek. By the late 1800s, there was a lumber mill, a packing house, orange groves, and several other industries in Palm Bay. However, growth was quite slow during that period. This changed in 1894, with the arrival of the railroad in Palm Bay.

Modernly, Palm Bay's economy is largely based around tourism. Because it is right on the Atlantic coast, and enjoys a warm, subtropical climate, it is popular among visitors, as well as people who wish to relocate, particularly retirees.

Palm Bay is also home to the Turkey Creek Sanctuary, a small nature preserve that showcases Florida's natural beauty. It is home to many native wildlife species, turtles, alligators, and dozens of types of birds. It has trails for hiking, bicycling, and jogging. The eponymous creek is an important breeding area for both freshwater and saltwater fish.

If you live in Palm Bay, Florida, and need an attorney, chances are good that you'll be able to find one. There are plenty of Palm Bay, Florida attorneys who can help you with whatever legal issues you may be facing.

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