Tax Audit in Schaumburg, Illinois

Find the right Tax Audit attorney in Schaumburg, IL

Tax Audit Lawyers in Schaumburg

In Schaumburg, Illinois, a "tax audit" is a procedure in which the IRS or local tax authorities conduct an investigation of a taxpayer's tax filings, looking at them in more detail than they ordinarily do. Typically, they do this because there is something suspicious in the tax return. State and federal tax authorities also do a certain number of random audits each year, without necessarily suspecting that an individual auditee has done anything wrong.

In Schaumburg, Illinois the procedure of being audited is relatively simple. If you are chosen to be audited, you will receive a letter in the mail telling you as much. It's important to verify the authenticity of this letter, because sometimes con-artists will pose as tax authorities, and conduct fake audits of unsuspecting taxpayers, then claim that they owe the government more money. If the victim pays, the scammer takes the money and runs. To verify that a letter is authentic, you should contact the nearest branch of the relevant tax authority. Do not simply call the number provided to you in the letter, since it will probably lead to the scammer. Use a phonebook or the Internet to find the actual number you should call.

Once you have made sure that your audit is indeed real, you can do a few things to get ready for it. Most importantly, you should gather all of the documents that the auditor has asked for, as well as any additional documents and evidence that you think might help clear up any confusion about your tax return. You should bring these to the meeting with the auditor, and truthfully (to the best of your knowledge) answer all of the questions that the auditor asks.

Reasons For a Tax Audit in Schaumburg, Illinois

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

As mentioned earlier, you might get audited simply because you were chosen at random. If this is the case, and you know that your tax return was completely truthful, and have the documentation to back it up, you shouldn't have anything to worry about.

However if the IRS or other tax agency suspects actual wrongdoing by a Schaumburg, Illinois taxpayer, that's a different matter. There are many 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.

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 Schaumburg, Illinois. 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 Schaumburg, Illinois Tax Lawyer Help?

If you find yourself being audited in Schaumburg, Illinois, and are certain that you have done everything right in preparing your taxes, then the audit will probably be over quickly, 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 probably 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 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 Schaumburg, Illinois tax attorney immediately.

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Life in Schaumburg

Schaumburg, Illinois is a village in Cook County. It is less than 30 miles northwest of Chicago, and has a population of about 75,000 people.

By the mid-19th Century, the area now known as Schaumburg, Illinois had been permanently settled, mostly by immigrants from Germany. The city takes its name from Schaumburg, a city in Lower Saxony, Germany, where many of the German immigrants came from. Thanks to this strong influence early in its history, the city's German character is still visible, in its architecture, restaurants, and culture.

For nearly a century, the village was somewhat isolated from the rest of Illinois, even from nearby Chicago. Howoever, the post-war building boom, and the near-universal adoption of the automobile by the early 1950s, ended this isolation.

Modernly, the city is an affluent suburb of Chicago, with the median household income being about ,000. Theenormous wealth produced in a city such as Chicago is able to support a surrounding area many times larger than the city itself, which contributes to the high standard of living and income seen in Schaumburg.

If you live in Schaumburg, Illinois, and need a lawyer, you're in luck. Schaumburg, Illinois attorneys are able to handle just about any legal problem a resident of Schaumburg is likely to face.

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