Tax Audit in Stevens Point, Wisconsin

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Tax Audit Lawyers in Stevens Point

A "tax audit" is a procedure in Stevens Point, Wisconsin where a taxpayer's tax return is investigated in detail, to ensure that everything on it is accurate. There are many different reasons why you might be audited, but it's usually because there is something suspicious about your tax return. This doesn't necessarily mean that you did anything wrong; it just means that the tax authorities aren't clear about what is going on with your financial situation, and want to investigate further to clear things up, and ensure that nothing illegal has happened.

The procedure of being audited in Stevens Point, Wisconsin is usually pretty simple. If and when the tax authorities decide to audit you, they'll send you a letter in the mail detailing what's about to happen. If you receive such a letter, it's extremely important that you make sure it's authentic. Sometimes, scam artists will send fake audit notices to people, claiming that they owe the government money. They will then collect their "taxes" and disappear. You should do an internet search for the name of the tax authority that the letter claims to represent, and call them to verify that you are being audited.

Once you receive the letter, and confirm its authenticity, you will have to meet with an auditor at the time and place specified in the letter, and subsequent communications with the auditor. The auditor will tell you what documents and records you need to bring to the meeting. They will then ask you some questions to clear up whatever discrepancy they found in your tax return.

Reasons For a Tax Audit in Stevens Point, Wisconsin

Tax Audits in Wisconsin can occur for a wide variety of different reasons.

As discussed earlier, tax audits can be conducted at random. Obviously, the government doesn't have the resources to audit every taxpayer under their jurisdiction. But, by conducting a significant 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 Stevens Point, Wisconsin tax audits occur for a specific reason. This is usually 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 very 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.

Likewise, trying to deduct a large percentage of your income is likely to raise suspicions. A tax deduction is a way to reduce one's tax liability by making some of one's income non-taxable. Some common sources of tax deductions in Stevens Point, Wisconsin are business expenses and charitable donations. Some people, however, try to include false deductions in their tax returns (trying to deduct charitable donations they never actually gave, for example). A massive 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 Stevens Point, Wisconsin Tax Lawyer Help?

If you are audited in Stevens Point, Wisconsin, 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.

But, there are some tax audits that are far more convoluted and serious than a tax return having a few more deductions than usual. If this is the situation you're in, you should contact a Stevens Point, Wisconsin tax attorney as soon as possible, to help make sure that your tax audit goes smoothly.

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Life in Stevens Point

Stevens Point is the largest city in the county of Portage County, Wisconsin. As the county seat, it has a population of about 25,000 and was incorporated in 1858. The city was named after its founder, George Stevens. Stevens was a supply trade businessman whose store served the numerous loggers in the area.

Geographically, Stevens Point is located in the center of Wisconsin. This makes it an ideal city for both business and residential endeavors. Several large corporations have their headquarters in the city, including the Donaldson Company, Associated Bank, and AIG Travel Guard. Also, the University of Wisconsin- Stevens Point, and Mid-State Technical College are located in the city.

Residents of Stevens Point typically enjoy a wide mix of activities, with a multitude of city services being offered in sports and the arts. Retail and entertainment also form a large part of the city's economy. Festivities include the Portage County Cultural Festival and a Fourth of July Riverfront Rendezvous. A little bit of trivia: the world's largest trivia contest is held every April in Stevens Point, and lasts over 50 hours straight.

Lawyers in Stevens Point, Wisconsin usually file their claims with one of the Wisconsin Municipal Courts, or at the Portage County Circuit Court. Regardless of the type of legal issues, Stevens Point lawyers offer services to address your specific concerns.

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