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Joe Nagel
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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.

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  • Joe Nagel

    Joe joined Hoffman & Associates in 2000 and became a partner in 2007. He is licensed to practice law in Georgia, Florida, North Carolina, and Ohio and is also a Certified Public Accountant. Joe serves clients in the areas of estate planning, corporate law, employment law, mergers and acquisitions, succession planning, income and estate tax planning, and tax controversy.

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Tags:Auditaudit resolutionhobby lossHoffman and Associatesincome taxincome tax auditIRSIRS assessmentsubstantiation
Joe Nagel
Joe joined Hoffman & Associates in 2000 and became a partner in 2007. He is licensed to practice law in Georgia, Florida, North Carolina, and Ohio and is also a Certified Public Accountant. Joe serves clients in the areas of estate planning, corporate law, employment law, mergers and acquisitions, succession planning, income and estate tax planning, and tax controversy.

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