H&A Successful in Audit Challenge

In this case our client was faced with a proposed IRS audit adjustment of $412,000 of denied deductions, which would have resulted in over $126,000 of additional income tax owed and $38,000 of penalties and interest.  The primary issues related to hobby loss exposure and substantiation.  H&A advised client throughout the audit process.  The IRS eventually reduced the assessment to a mere $436.     This successful outcome was the result of a collaberative effort between the client, his accountant, and the H&A team.  We want to thank everyone involved for their efforts.

If you would like help dealing with the IRS, please contact us at (404) 255-7400.