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McMill Building

125 S. 4th Street

Norfolk, NE 68701

 

Phone:     402-371-1160

Toll Free: 800-694-1160

 

Website: www.mcmill.info

April 2022

IRS Audit and Your Business

Insights and Tips

Receiving notification that the IRS wants to audit your prior-year tax return can be stressful. But knowing what to expect may help settle your nerves.


Types
There are three types of audits: correspondence (by mail), desk (at the IRS office) and field (at your business).

Timing
Generally, the IRS can go back three years to conduct an audit. And how long it takes to complete an audit varies depending on the complexity of the issues, the availability of audit evidence, flexibility of parties to schedule meetings and whether you agree with the auditor’s findings.


Finalizing
If you disagree with an auditor’s findings, you have the right to appeal or request mediation. Or you can request a meeting with an IRS manager.


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