FREE CONSULTATIONS & WE'RE AVAILABLE 24/7

Apr 25, 2018

What are the possible outcomes of an egg shell audit?

Many may have never heard of the term “egg shell audit” before. It is something that a lot of us do not have to discuss because it does not apply to our lives. However, there are some out there for whom this term is just about the most important thing happening in their life at the moment. Those individuals have to worry about it because an egg shell audit going on in their lives means that they are at risk for some serious civil or even criminal penalties.

What Is This Kind Of Audit?

To keep it as simple as possible, an egg shell audit is a type of audit in which a taxpayer has already filed a return that is fraudulent in the scene that not all of one’s income was submitted on tax returns in a deliberate attempt to avoid paying some duly owed taxes.

It is called an egg shell because it is like walking on egg shells to prevent the auditor from become suspicious of your returns. It is a place that no one really wants to be when it comes to dealing with the IRS.

Risks Of An Egg Shell Audit

There are bigger risks tied in to an egg shell audit in comparison to a traditional audit. Every year there are thousands if not millions of Americans who receive a letter from the IRS stating that they owe money. These letters are generated after an audit has been conducted and it has been determined that the individual has actually not fully paid all of the taxes that they owe on some previous tax reporting year from the past.

Those types of audits are not as big of a deal given the fact that they just require the taxpayer to pay some interest and penalty charges and get straight with the IRS. Those individuals are not facing additional penalties unless they continue to refuse to pay going forward. This is not the case for someone in an egg shell audit.

A person who has filed a fraudulent return has actually gone out of their way to try to take the IRS for a ride. That is not something that is just going to be allowed to stand. They face civil penalties if they are found guilty of having filed a fraudulent return. Depending on the severity of the situation, they may also have to deal with criminal penalties going forward.

Hire An Attorney Immediately

It is a scary place to be dealing with an egg shell audit, but it is far scary to be doing so while trying to represent yourself without the help of a professional. In fact, that is just flat out wreckless. Instead of going down that path, consider hiring an attorney right away. You will not regret that decision when you are facing down the IRS and trying to figure out who is going to blink first. A professional can guide you on what you should be doing and saying to them every step of the way.

Request Free Consultation

Testimonials

Request Free Consultation

Please fill out the form below to receive a free consultation, we will respond to your inquiry within 24-hours guaranteed.

Manhattan

85 Broad Street, 30th Floor
New York, NY 10005

Queens

35-37 36th St,
Astoria, NY 11106

Brooklyn

195 Montague St.
14th Floor,
Brooklyn, NY 11201

Manhattan

85 Broad Street, 30th Floor
New York, NY 10005

Phone

888-977-6335

Queens

35-37 36th St,
Astoria, NY 11106

Phone

888-977-6335

Brooklyn

195 Montague St.
14th Floor,
Brooklyn, NY 11201

Phone

888-977-6335