Tax Audit in Reno, Nevada

Find the right Tax Audit attorney in Reno, NV

Tax Audit Lawyers in Reno

A "tax audit" is a procedure in Reno, Nevada 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 Reno, Nevada is usually 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 important 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 actually 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 usually 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 Reno, Nevada

There are many different reasons why the federal government, or the tax authorities of Nevada 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 properly in filing your taxes, you will probably be fine.

On the other hand, some taxpayers in Reno, Nevada are audited for a specific reason, rather than being drawn at random. If the tax authorities believe that you have underreported your income, that is a very common 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.

If you claim such a large number of deductions that your tax liability is unusually low, you may well be subject to an audit in Reno, Nevada. A deduction is an allowable reduction in your taxable income, requiring you to pay taxes on a smaller portion of your income. Certain business expenses and charitable donations are common 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 proper documentation to back them up.

How Can A Reno, Nevada Tax Lawyer Help?

If you are audited in Reno, Nevada, and believe that you have done everything right in preparing 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 - usuallyy 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 complex than a simple misunderstanding. In these cases, a good tax attorney in Reno, Nevada may be necessary to ensure that the process is as painless as it can possibly be.

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Life in Reno

Reno says it's "the biggest little city in the world." Situated in a high desert valley at the foot of the Sierra Nevada, Reno is the seat of Washoe County and home to 220,500 "Reno-ites." It's the fourth most populous city in the State of Nevada behind Las Vegas, Henderson, and North Las Vegas. Like it's compatriots, Reno is best known as a gambling and entertainment destination. Many residents of the Sacramento Valley, San Francisco Bay Area, Los Angeles, San Diego and Phoenix vacation in Reno. Most tourists visit during the annual festivals like the Hot August Nights classic car festival, the world renown Nugget Rib Cook-off, Reno Air Races and the Great Reno Balloon Race. There are a number of themed resorts like Circus Circus but nearly every hotel and resort has great shows. Reno is home and birthplace of Harrah's Entertainment.

The area of Reno and nearby Sparks is known as "Truckee Meadows." The city covers 69.3 square miles which also includes the Reno Events Center that hosts many concerts. There is a large population of students in Reno because University of Nevada, Reno is there. UNR is the oldest university in the State of Nevada and has a medical program that attracts national attention. Truckee Meadows Community College enrolls about 13,000 students. Nevada School of Law at Old College in Reno was the first law school in Nevada. There are a lot of courts in Reno so you shouldn't be surprised there are a lot of lawyers too. Reno lawyers can practice law throughout Nevada and know how to handle your legal issues.

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