Tax Audit Lawyers in Guymon
An "audit" is an administrative proceeding in Guymon, Oklahoma whereby the IRS, or a local tax-collection agency looks at a person's (or business's) tax filings in more detail than they do in ordinary cases. This is typically done when the tax return has a suspicious discrepancy on it, or if the taxpayer was simply picked at random. It's not uncommon for tax authorities to conduct random audits, providing people with an incentive to be honest on their taxes, knowing that they could be audited at random.
In Guymon, Oklahoma 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 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 Guymon, Oklahoma
Tax Audits in Oklahoma can happen for a wide variety of various 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 Guymon, Oklahoma 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.
Likewise, attempting to deduct a large percentage of your income is likely to raise suspicions. A tax deduction is a way to lower one's tax liability by making some of one's income non-taxable. Some customary sources of tax deductions in Guymon, Oklahoma are business expenses and charitable donations. Some people, nonetheless, try to include incorrect deductions in their tax returns (attempting to deduct charitable donations they never truly gave, for example). A wide 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 Guymon, Oklahoma Tax Lawyer Help?
If you are audited in Guymon, Oklahoma, and believe that you have done everything right in collecting and filing your tax return, you likely don't have much to worry about. If there is anything wrong with your tax return, it was likely 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 complicated than a simple misunderstanding. In these cases, a good tax attorney in Guymon, Oklahoma may be necessary to ensure that the process is as painless as it can possibly be.