What is a Notice of Deficiency from the IRS? A Tax Attorney Explains

Whether through an audit or upon seeing that a taxpayer did not report all items of income their income tax return, the IRS generally adjusts or increases a taxpayer’s tax by issuing a notice of deficiency. The notice of deficiency from the IRS states the items that the IRS has adjusted on the income tax return, the amount of adjustment per each item, the total adjustment and then the increase in tax and penalties for the applicable tax year. If you have received a notice of deficiency from the IRS, it is recommended you discuss the matter with a tax attorney. A tax attorney can represent you before the IRS in an audit, petition the United States Tax Court and advise you prevent the matter from occurring again or perhaps getting worse. You can speak with a Columbus tax attorney at The McGuire Law Firm regarding your tax matters.

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