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Started By
Message
Is audit protection a legit thing?
Posted on 5/30/14 at 10:19 am
Posted on 5/30/14 at 10:19 am
I can't help but think Audit protection is an immediate red flag and would draw more attention. Am I just wearing a tinfoil hat or does audit protection actually work?
How does it work?
How does it work?
3
Posted on 5/30/14 at 10:42 am to RBWilliams8
i bought it, never been audited...so i'm gonna keep buying that shite yo. 
Posted on 5/30/14 at 11:13 am to Chad504boy
I was just wondering how it worked. I jokingly pictured a tax company saying "okay IRS, here's all our files. This stack requires less attention than that one."
Posted on 5/30/14 at 11:19 am to RBWilliams8
It doesn't keep you from getting audited, it's more of an insurance plan in case you get audited. When I worked at a CPA firm, we called it Pre Paid Audit Representation Protection. If you paid us an extra $25 when we prepared the return, then we would handle all tax notices and audit proceedings up to a certain level for no additional fee. If you didn't elect it, then we would charge our hourly rate to handle it. The IRS has no knowledge of who selected it and who didn't.
Posted on 5/30/14 at 11:22 am to CubsFanBudMan
More important for large complex corporate returns. I don't buy it, but both myself and my business(es) use a tax attorney who is a client of mine, and he has agreed if audited there are no additional charges.
On personal taxes preparers should provide this service at a minimal expense. Larger business returns can cost more than the amounts listed above though.
On personal taxes preparers should provide this service at a minimal expense. Larger business returns can cost more than the amounts listed above though.
Posted on 5/30/14 at 11:28 am to Iowa Golfer
Our firm does not offer this... and I think companies/firms that do... I'm not sure why, except to try to get some extra money out of it.
If the audit/notice is the result of an error we made, we don't charge the client to fix it / respond.
If the audit/notice is not the result of an error we made, we charge our normal hourly rates to fix it / respond.
I'm not in the business of taking someone's money without providing them a service.
If the audit/notice is the result of an error we made, we don't charge the client to fix it / respond.
If the audit/notice is not the result of an error we made, we charge our normal hourly rates to fix it / respond.
I'm not in the business of taking someone's money without providing them a service.
Posted on 5/30/14 at 11:42 am to LSUFanHouston
quote:
If the audit/notice is the result of an error we made, we don't charge the client to fix it / respond.
If the audit/notice is not the result of an error we made, we charge our normal hourly rates to fix it / respond.
Which is how the business should be done.
Posted on 5/30/14 at 11:43 am to CubsFanBudMan
Gotcha makes sense. 
I was talking to this functional retard and he brought up how he got X amount back from turbotax. Seemed impossible with his wages and I was fricking with him and he said "it's cool, I got the audit protection, they can't touch me".
I was talking to this functional retard and he brought up how he got X amount back from turbotax. Seemed impossible with his wages and I was fricking with him and he said "it's cool, I got the audit protection, they can't touch me".
Posted on 5/30/14 at 1:33 pm to RBWilliams8
"They"? He is stupid for ever playing games with the federal government. "They" can get you, and "they" are virtually undefeated when they come after you.
Posted on 5/30/14 at 1:38 pm to RBWilliams8
quote:
I can't help but think Audit protection is an immediate red flag and would draw more attention. Am I just wearing a tinfoil hat or does audit protection actually work?
How would they know you purchased audit protection?
Posted on 5/30/14 at 2:14 pm to Iowa Golfer
Agreed.
Posted on 5/30/14 at 8:37 pm to RBWilliams8
quote:
he said "it's cool, I got the audit protection, they can't touch me".
Audit protection only means you get one of them to represent you in case the IRS picks you. You still have to put together the paperwork and such, it's just that their guy will try to help make sure it's presented properly and according to the law. Basically, whoever is representing you is mostly making sure all the i's are dotted and t's are crossed, and if there's any ambiguity (usually there isn't) will try to plead your case.
It has zero impact on whether you will be chosen for an audit, and if you royally screwed up your taxes you still might wind up paying penalties, just hopefully not as much as you would have without help.
I have never used it myself since I know how to do my taxes. Someone who is totally clueless or a
quote:
functional retard
might benefit though.
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