Very rarely do tax audits result in taxpayers receiving refunds or having no change to their tax filings. Usually, Massachusetts residents who go through the audit process get word that they owe more in taxes and have to pay interest and penalties on top of it. Thankfully, those who are unhappy with their audit results may appeal.
Few people end up filing appeals following tax audits because many believe it won’t do them any good. The truth is, though, those who do often end up reducing or eliminating how much they owe. It is usually worth doing; however, one should know that it is possible an appeals officer may find things an auditor didn’t, so one may end up owing more when all is said and done — though this is rare.
Those who wish to appeal the results of their tax audits have 30 days to file the petition to do so. Some may be able to get an extension, giving them 60 days to file the appeals paperwork. Once the petition is filed, one has 60 days to prepare for the hearing of the appeal. These meetings are informal but intimidating nonetheless. After stating one’s case, the appeals officer may take some time investigating the matter before being willing to negotiate a settlement.
An audit appeal is usually settled out-of-court, and settlement terms are typically reached quickly. An experienced tax law attorney can assist Massachusetts residents with moving things along by walking them through the appeals process, presenting their cases and taking the lead in the negotiations process. With the right help in one’s corner, one may achieve the best possible outcome.