Do I have to sign an extension to an IRS audit?
I am in the middle of an IRS audit and the auditor is new to auditing and does not have time to finish the audit before their original deadline. He asked me to sign an extension of time for the audit, but I am not sure if I should. If I do not sign the extension,what are the consequences and/or benefits? Thanks.
Answered By: Steven J. Fromm
If you do not file the extension and you are close to the statute of limitations deadline, the auditor may send you a 90 day letter that will land you in United States Tax Court. Whether to sign an extension should be discussed with your tax accountant or a tax attorney.
Answer Applies to: Pennsylvania
Replied: 8/21/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: Pennsylvania
Replied: 8/21/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: David Hoines Law
If you don’t the auditor will probably assess you back taxes to protect the statute of limitations.
Answer Applies to: Florida
Replied: 8/12/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: Florida
Replied: 8/12/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
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