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My relative has an IRS Audit. Her accountant said that he"

My relative has an IRS...
My relative has an IRS Audit. Her accountant said that he " procured her tax return account transcripts, and the Wage and Income transcripts that the IRS has to verify your tax return disclosures." Does it mean IRS had sent him their records?
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9/26/2017
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,220
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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If the accountant said that he " procured her tax return account transcripts, and the Wage and Income transcripts" then that means that he received the transcripts from the IRS. The Tax Account Transcript - shows basic data such as return type, marital status, adjusted gross income, taxable income and all payment types. It also shows changes made after you filed your original return.

The Wage and Income Transcript - shows data from information returns we receive such as Forms W-2, 1099, 1098 and Form 5498, IRA Contribution Information.

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Customer reply replied 9 months ago
If he has all this information, does it mean he should know what caused the audit, because he does not....

No , those do not tell you what caused the audit. The IRS sends a letter saying what they are looking at specifically in the audit. The cause though could just be chance or it could be that items reported are far more than national averages for the same items.

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As long as your relative has all the proof for all items claimed on the return there would be no problem for them in this audit.

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Customer reply replied 9 months ago
She has the letter that is very broad: tax returns starting from 2012, request for all bank accounts, all deposits, withdraws, etc., but not clear why they require that information. How can she find it out?

When you are audited the IRS will provide you with a written request for the specific documents they want to see.

When conducting the audit, they ask you to present certain documents that support the income, credits or deductions you claimed on your return. You would have used all of these documents to prepare your return.

If they are asking for bank info and deposits and withdrawals for an individual they are looking at income. She should have her accountant handle this provide what is required.

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She has the right to know why the IRS is asking for information, how the IRS will use it and what will happen if the requested information is not provided. The accountant should ask them if they are handling this for her.

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Customer reply replied 9 months ago
But now that the accountant has the IRS Transcript and the Tax returns and they match, where could the problem be?
Customer reply replied 9 months ago
I mean the income from the transcript and reported income match...

If the IRS wants the bank info then they may have information that the person had more in the accounts than matches the returns filed.

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Customer reply replied 9 months ago
would not it be reflected in the Transcript that the Accountant obtained?

No it would not. I posted above what those transcripts contain.

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Customer reply replied 9 months ago
I am sorry, I do not understand.....what can they have that is not in the Transcript?

Her best course of action is for the accountant to ask them what part of the return their are auditing. Bank accounts are not in the transcript (account balances).

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Customer reply replied 9 months ago
why does does it matter what the balances are? I thought what matters is Income....

If someone has more than they reported as income then where did it come from? I am just giving an opinion on that, I do not know for sure what info they have. The accountant should ask them what they are looking at in the audit.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,220
Experience: 15years with H & R Block. Divisional leader, Instructor
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Robin D. and 87 other Tax Specialists are ready to help you
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Customer reply replied 9 months ago
Ok. Thanks.

I hope the best for your relative

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