IRS TAX AUDIT DEFENSE: PRODUCT VS.
SERVICE VS. INSURANCE
So you’ve received an IRS tax audit letter or a NYS tax audit letter. Do you need a product, a service, or insurance?
A product is something tangible that is manufactured or made for sale.
This comes in the form of the Audit Defense Package. With the Audit Defense Package you receive everything you need to defend your tax deductions in a do-it-yourself package. It is cost-effective and the most economical solution to resolve a taxation audit. It requires you to make the effort to get your documentation in order and put it into the framework that the Audit Defense Package provides.
A service is something intangible that is supplied due to a public need.
This would be hiring a Certified Public Accountant, Tax Lawyer, or Enrolled Agent to defend the tax return audit for you. The first thing they will tell you to do is to gather your information and bring it to them. How? You would still have to transmit voluminous information to the professional and to the IRS in a cohesive and powerful format to win your taxation audit at the earliest possible stage in the process.
These professional services are frequently in the thousands of dollars. Their cost is based on hours of professional time required.
Insurance is something you buy to protect yourself from something that could happen but has not happened yet.
Audit insurance would come in the form of “Audit Protection” from a company like TurboTax or H&R Block. They promise you certain representation in the event of an IRS tax audit or a NY tax audit, for a small fee that you pay with your tax return. However, this so-called insurance leaves the majority of customers dissatisfied and wishing they didn’t buy it in the first place. More information on that can be found HERE or by doing a simple Google search for reviews.
You can’t get insurance once you already have a problem (after your house already burned down). That leaves you with a product or service. Which is the best fit for you?
Whether you choose to handle the audit yourself, or hire a professional, the Audit Defense Package is the best option because it:
A. reduces the amount of professional time and cost required for the taxation audit,
B. provides you with a framework to organize your materials,
C. incorporates defensive IRS rules for the taxpayer, which are frequently ignored by auditors,
D. shows you how to claim tax deductions for which you have no receipts,
E. includes critical details and reasoning to support your tax deductions, and
F. includes explanations of what is required and how it should be displayed,
in schedules already structured and printed for you.
Copyright 2017 Tax Strategies, Inc. Robert Greene CPA CMA