Smart Ways To Handle An IRS Auditor
VIDEO TRANSCRIPTION – Smart ways to handle an IRS auditor. Hi, I’m Steven D. Cooper, your tax strategist with Coopers Accounting Service, because your financial freedom matters.
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For some of you that had a chance to watch a prior video, I was talking about a client who was going through a special audit. The auditor’s title is revenue officer.
He is an officer for the IRS and this is typically what clients owes over $100,000. In this example, my client owes $1.8 million due to back taxes, emphasis payroll taxes. These are the two things I want you to get out of this video.
One is we established credibility, meaning CAS, Coopers Accounting Service, established credibility with the revenue officers first. He now trusts us. So when he asks for something, he knows he’s going to get it and the timely fashion that he asked for it.
Now, as we bring and our clients, because there was a couple of interviews with both of the owners. They now got a feel for the auditor. They don’t see him as the big bad guy. He is working with us because the ultimate accomplishment is the client does want to pay the money back.
Sadly, the client was a victim of Hurricane Matthew as well as COVID. So we’re going to do what’s called an offer and compromise. That’s where he’s going to pay a portion of the debt. So he’s not going to pay all the 1.8 with the penalties and interest.
So he’s going to pay roughly about a million dollars. So by using Coopers accounting service, we have reduced the client’s debt from $2 million to $1 million. Sounds good to me.
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If you’d like a free 20-minute smart money consultation, give us a phone call. 562-436-2600. Well again, I’m Steven D. Cooper, your tax strategist with Coopers Accounting Service.
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