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IRS Audit Monitoring

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IRS Audit Monitoring

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Examples: Increased database security, lower audit risk, decreased legal liability.
For example, many federal tax credits will not be received for 3-6 months after filing an amended return, are applied as direct offset to a timely filed return, or are rolled over to to offset tax liability in future years. Credits can be utilized against tax liability, some can be used against payroll tax liability, etc.
Examples: Contingency fee between 10-20% of the benefit calculated/received; Fixed fee based on estimated hours involved in delivery the service; etc.
Examples: Contingency fee collected upon completion of service; Fixed fee collected in thirds, first at project commencement, second at certain milestone, third at service completion; etc.
Examples: Time commitment from certain personnel, etc.
Examples: Amending tax returns extends the window for tax returns to be audited as well as certain filings raise the chance of audit, and audits for this service have mixed outcomes industry wide with 50% of audits resulting in the loss of some or all of the credit; etc.
Examples: Referencing the above amending tax returns, audit risk generally is present 6 months to 3 years after filing a return. Audits themselves for this service may take 6 months to 1 year, appeals to unfavorable audit results may take another year, and lawsuits could add additional years to the resolution of an unfavorable audit.
Examples: For many tax credits, the Provider requires accounting data and communication with the Client's CFO or accounting rep. Provider calculates the credit and prepares the filing. Client signs filing. Provider files credit.
Example: Tax credits can be found in the U.S. Code Title 26, Sections 21 - 52 as well as Treasury Regulation, Title 26, Sections 1.21 - 1.52.
For example: Legal services can only be delivered under states' laws where the provider is licensed to practice. Cost Segregations require site visits, therefore some providers only service specific geographic areas.

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