An IRD tax audit notice has arrived. What now?!
The Government has pledged more money for the IRD to carry out more audits, so the chances you will be audited have increased. It’s your turn.
Have you paid all taxes? Are you fully compliant?
Tax audits can be stressful and it is very important that you understand what you are getting into. You need to let the IRD know that you will not be pushed around; it helps to have a tax professional at your side.
How is a tax audit carried out?
That depends. A simple tax audit may need only one visit while others will be ongoing. You may find that a tax investigator is working on your premises for quite some time depending on:
- the complexity of your affairs
- your record-keeping
- how much help you or a tax professional can provide
Don’t Panic – tax audits are our bread and butter.
Yes, a tax audit can put you and your business under a lot of stress but that’s where we come in. Tax Debt Management know how tax auditors work and we do this all the time. We’ll make sure you come out the other end with the best results.
Our tax professionals will step in and provide the auditor with the correct documentation, and the assurance they need to get you the best results.
Your first interaction with the IRD is critically important.
The IRD tax auditor is looking for anything they can use against you and mistakes at this point cannot be undone. Get Tax Debt Management on board as soon as possible. If your affairs are not in order, but you have acted in good faith, ask for professional advice before proceeding and do NOT assume the tax auditor will understand.
How will we help you survive the tax audit?
Tax Debt Management will help by:
- Explaining in plain language what the tax authority notice means and what is happening
- Investigating any issues that crop up
- Helping you get together any documents and records needed
- Explaining any outcomes of the tax audit and preparing a review if necessary
- Explaining how the appeal process works if you disagree with the tax auditor’s findings
We can communicate directly with the IRD on your behalf if required. It’s our job to protect you and make sure you get the best possible result from the tax audit.