When an IRS audit concludes, here are the three possible outcomes:
-Agreement with IRS Results:
*Sign the examination report.
*If you owe more taxes, various payment options are available, like installment plans or offers in compromise.
-Disagreement with Audit Results:
*Request a conference with an IRS manager.
*Consider taking the matter to court.
*Consulting a tax professional is highly recommended for navigating these options.
-No Changes:
*If all your claims are substantiated, the IRS may make no changes to your tax liability.
*This is common when your filings are accurate and timely.
Stay prepared and know your options!
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