Releases

After receiving notice of an IRS audit, the first call for entrepreneurs has traditionally been to the company CPA. However, that may no longer be enough, cautions Dallas tax attorney Dan Baucum of Shackelford Melton & McKinley. "The IRS audit has gotten more sophisticated," says Baucum, a former Special Assistant to the Associate Chief Counsel at the IRS. "When a small business is audited, it will automatically extend into areas such as real estate, expenses and business structure, as well as into the owner's personal finances, exponentially expanding the risk. As a result, entrepreneurs need someone who is looking strategically at the audit. At the revenue agent level, there is no authority to settle, so you have to go in knowing there will be a next step and plan accordingly." For information, contact Rhonda Reddick at 800-559-4534 or rhonda@androvett.com.