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IRS Audit Resources Brigham City UT

While we all fear an asteroid blowing up the planet, a more realistic fear for most of us is getting audited by the IRS. Well, new statistics are out telling us when the IRS starts auditing taxpayers.

Mr. Gregory W. Williams (RFC®), CFP, CHFC, CLU, LUTCF, MSFS
(801) 453-2271
6340 South 3000 East, Suite 500
Salt Lake City, UT
Company
Exit Strategy Specialists, LLC
Qualifications
Years of Experience: 26
Membership
IARFC, MDRT, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Education Plan, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Robert Blake Accounting and Tax
(801) 763-8295
9626 Dorchester Drive
Cedar Hills, UT
 
Liberty Tax Service
(866) 871-1040
1132 E 3300 S
Salt Lake City, UT

Data Provided by:
H&R Block
(801) 225-4018
738 S STATE
OREM, UT

Data Provided by:
Liberty Tax Service
(866) 871-1040
438 E 12300 S
Draper, UT

Data Provided by:
Mr. A. Wayne Margetts (RFC®), LUTCF
(801) 532-1871
175 S Main St, Ste 1050
Salt Lake City, UT
Company
LPL
Qualifications
Education: BSc (Math)MBA
Years of Experience: 16
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Abd Svc
(801) 953-0633
2866 S 7070 W
West Valley, UT

Data Provided by:
H&R Block
(801) 334-4002
5845 E AVE BLDG 412
HILL AFB, UT

Data Provided by:
H&R Block Premium
(801) 355-4649
888 S 200 E STE B
SALT LAKE CITY, UT

Data Provided by:
Singleton's Tax Svc
(801) 373-6920
244 W 300 S Ste 1
Provo, UT

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IRS Audit Resources

Income Levels When The IRS Starts Auditing You

While we all fear an asteroid blowing up the planet, a more realistic fear for most of us is getting audited by the IRS. Well, new statistics are out telling us when the IRS starts auditing taxpayers.

The IRS typically looks back at your three past tax returns when considering whether an audit should be done. What are the specific factors the agency looks at in making that determination? Well, that is a state secret. The agency develops profiles of niches and then compares their tax return information to the profile. If you fall outside of the profile in some certain way, you stand a good chance of getting audited.

The IRS does not release these profiles to the general public. This is hardly surprising if you think about it. So, how do you know whether you are at risk? Well, one huge factor is how much money do you bring in and claim as income? The IRS has been taking a business approach to tax collection since the middle 1990s. This means the agency wants to get the most return it can for its effort. This new approach has had a practical effect on audit rates. Let's take a look.

The statistics for IRS audits that have just come out reveal something significant. If you have total income of less than $200,000, you have a 1 in 100 chance of being audited. This is a low number. People that bring in more money have a much higher chance. People who earn up to a million dollars a year have a three percent chance while those earning more than that have a six percent chance.

Now, it is important to understand what an audit is. There are different types. From September 30, 2008 to September 30, 2009, the IRS performed 1.4 million audits. Of this number, one million were "correspondence audits". This means the IRS simply sent a letter asking for clarification, supporting documents or more money. I actually received one of these. I failed to pay a late penalty on my tax payment according to the IRS. I checked and the agenc...

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Opinion Corner
Tax Payers in Utah shared their opinions about Government
Was the service you received worth the fee you paid?
Yes: 100%
No: 0%
What are the reasons you have not consulted an IRS settlement/mediation service?(Select all that apply)
Cannot afford it: 18%
Do not need it: 63%
Think it is a scam: 18%
Do not know what that is: 13%
Not sure: 0%
Would you use an IRS settlement/mediation service if there was no upfront fee?
Yes: 27%
No: 18%
Need more information: 54%
Source: Survey.com