How Can You Survive a Tax Audit With the help of Tax Consultants?

by Stuart Iles Partners Tax Consulting

Before you are filing your taxes, you need to ensure having a detailed tax consultation with your tax consultant. To get over an audit, you must be extremely professional.

After filing your income tax and tax returns with the ATO, you could breathe a sigh of relief. Then you are sent a notice on when you will be audited. When the dignified officials at the ATO will tap you for an audit, then you must not panic. It is true that you have no choice left for the audit, but you can always go in for making it much painless as possible by remembering a few vital and helpful tips.

In the first place, make sure to coordinate with your hired tax consultant. In fact, before you proceed with filing your tax returns, you must first choose for taxation consulting with your tax consultant for your Hobart based business.

i. Be Extremely Courteous And Professional

The job of the auditors is not an easy one. Auditors have to fulfill a stressful job by dealing with the normally-annoyed people being audited. Most often, many people take their annoyance on the auditors that cause them to inconvenience later. So, make sure to be present with your tax consultant and cooperate with the auditors to conduct the audit soon and fairly.

ii. Answer Briefly To The Questions

The auditors can easily recognize the irregularities in the tax returns and they can even listen to you and gauge whatever you tell them. Hence, the smart idea is taking a page from what the trial lawyers are found to tell their witnesses. Make sure to keep up to your brief answers and pertain only to the questions you are being asked. Refrain yourself from volunteering information or create a space for further auditing. The best is to speak only when you are asked to, or else, let your tax consultant to the talking since you already had a tax consulting earlier while filing the income tax.

iii. Be Absolutely Prepared

Keep all your documents round the year organized that they are completely ready to be reviewed. If you feel you will fumble around to get the information and receipts, then hand over the responsibility totally over to your hired tax agent. Do not let the auditor think for once that your taxes have been haphazardly filed. With the help of the tax consultants, you are sure to avoid the risks of raising a red flag from the auditors’ end, which might call for multiple reviews in a single year.

iv. Never Ever Lie

You might want to present the truth differently, but under severe pressure and fear, the truth will come out with extra details that might influence the audit’s outcome. So be careful that you are not caught in the lie. If you think you might not provide all the details correctly, then allow your tax agent to speak who is having all the details. The auditor must not feel he/she is receiving wrong information from you, or else they might look more closely at the provided information.

Keep it in mind that you have the liberty to appeal an audit if you feel it is unfair or inaccurate. So, for your own interests work closely with your hired tax professionals who will help you with taxation consulting and appeal. They will flawlessly represent you before the ATO since they can tactfully handle the tactics the auditors are sure to arise.

Hence, we have arrived at the conclusion that before filing your income tax returns, you have to consult with your hired tax agent who will guide you with your tax preparation need and guide you regarding taxes. They are equally qualified to help you throughout the audit process and represent to before the ATO to make sure you receive the best outcome.