How the IRS Audits Attorneys
Fighting For Your Own Rights
If you’re an attorney, you have experience fighting for others and their rights. But when you’re facing an audit from the Internal Revenue Service (IRS), you may find yourself in the unfamiliar situation of fighting for yourself.
This happens more than you may realize. Attorneys are actually the most audited professionals by the IRS. This isn’t because the IRS has a grudge against legal professionals, but because the extenuating circumstances that most lawyers have make their tax situation difficult and unique. Attorneys may be at a higher risk of committing fraud — whether unintentionally or not — since a large number of attorneys are self-employed and work for contingency fees. Some lawyers, such as immigration experts, also commonly accept cash payments, which may lead to an even more complex tax scenario.
Preparing for an Audit as an Attorney
Unfortunately, preparing for an audit can be exhausting and time-consuming, and as an attorney, we know you like to be prepared for your fight. That’s why we’ve compiled a report on what you can expect should you face an audit from the IRS. Former IRS agent and Landmark Tax Group founder Michael Raanan compiles his expertise, experience, and advice into this report specifically for attorneys.
The report, “How the IRS Audits Attorneys,” highlights actions you can take before, during, and after an audit to make the process go smoothly; describes how to keep your penalties low; and shows you how to complete the process unscathed. Attorneys will learn various organizational tips for monitoring and recording their finances throughout the year and can dive into a step-by-step guide of what to expect during an audit. Additionally, this report features common issues that crop up during an audit and example cases, allowing attorneys to gather more information on their own.
The time to prepare for an audit is not when you get a letter from the IRS.
Click here to receive this free report and prepare for a potential audit.
If you or someone you know is struggling with back taxes, our experts at Landmark Tax Group can help. Contact us for a free and confidential consultation today!