IRS Publication 556: Examination Of Returns, Appeal Rights And Claims For Refund
Contents
Demystifying IRS Publication 556: Your Guide to Tax Examination, Appeals, and Refund Claims
Navigating the complexities of tax processes can be daunting, but IRS Publication 556 is here to shed light on the examination of returns, appeal rights, and the claims process for tax refunds. Let's delve into the intricacies of this document and understand how it empowers taxpayers in their dealings with the Internal Revenue Service (IRS).
Understanding IRS Publication 556
Published by the IRS, Publication 556 serves as a comprehensive guide for taxpayers, outlining the audit process, the rights of taxpayers to appeal IRS decisions, and procedures for claiming tax refunds. It acts as a vital resource, providing clarity on the steps taxpayers can take when faced with proposed changes to their tax returns.
The Examination Process and Appeal Rights
Exploring the examination process outlined in Publication 556, we uncover how the IRS selects returns for further review and the criteria used to assess tax returns. From discrepancies in reported income to inconsistencies with external data sources such as Form 1099 and W-2, various factors can trigger an IRS examination. We also delve into taxpayers' rights to appeal IRS decisions and the steps involved in resolving disputes through mediation and other avenues.