August 01, 2022—As per the IRS data, nearly 1.3% of those earning less than $200,000 were audited last year, with almost 4.3% of those earning more receiving audit notices. According to the law, the IRS has the authority to intentionally or randomly review a person or entity's tax returns, check the tax filing history, review the provided information, and uncover possible frauds or mistakes.

Experts believe a pattern exists in tax returns audits, especially when it comes to business tax returns. Nearly 2-4% of the general population, 1% of trusts, 5.6% of partnerships, 21% of states, and 1.4% of corporations with less than $10 million in assets were audited compared to 18.7% above the threshold.

It was reported that higher-income earners are likely to undergo more complex tax returns containing audit triggers. In the event of IRS audits, some queries can be resolved by providing evidence and documents over the phone or via email. For more complex cases, experts at Nidhi Jain CPA offer professional IRS representation and audit defense services at industry competitive rates.

The company provides a full range of outsourcing services for clients looking to streamline cost-effectiveness in their bookkeeping, accounting, payroll, business formation, and taxation procedures. Nidhi Jain CPA offers professional guidance for comprehensive bookkeeping, accounting, and taxation services.

From personal to business tax filing, consultation, and back tax solutions, the experts at the California-based CPA firm offer a full range of services to clients across the Bay area, including South Bay, Milpitas, San Jose, San Francisco, East Bay, Pleasanton, Sunnyvale, Dublin, San Ramon Trivalley, Livermore, and Fremont. Their experts have the relevant certifications and experience required to handle personal, and business audits effectively.

Speaking about the service, a representative from Nidhi Jain CPA shared, "IRS audits are generally negotiations to a great extent. From the very first call, throughout the initial meeting, and the explanation and presentation of documents, each step must comply with the rules and regulations. Our experts can help ensure not just that but a lot more. We understand that it's these negotiations that set the groundwork for potential tax litigations, so we help our clients accurately prepare the shoebox with all the records and books. The tedious preparation process helps make a vast difference in the tone and pace of the IRS audit."

People across the United States also trust the CPA firm for gift and asset inheritance from foreign countries, FBAR filing, repatriating money from foreign countries, international tax compliance and reporting when selling properties abroad, incorporation of US entities by international clients, and tax planning and advisory services.

Their team also delivers extensive cash flow analysis and budgeting services and provides a comparative analysis of S-Corporation, C-Coporation, LLC, LLP, and partnerships to help clients select the correct business entity.

People seeking support for personal or business tax preparation, payroll, business formation, bookkeeping, and accounting can connect with them on the details provided below.
About the Company
Nidhi Jain CPA, an outsourcing firm run by Nidhi Jain CPA, CA, CTC, MoC, offers expert guidance and a full range of professional services, from personal and business accounting to tax filing and tax consultation and payroll services. Based in California, the outsourcing firm serves clients in San Jose, East Bay, Dublin, South Bay, Milpitas, Pleasanton, Sunnyvale, San Ramon Trivalley, Livermore, and Fremont, San Francisco.
Contact Details
Website: https://www.nidhicpa.com
Email: [email protected]
Phone Number: 925-952-7891
Dublin Address: 11501 Dublin Blvd Ste 200 Dublin, CA 94568
San Jose Address: 2880 Zanker Rd, Ste 203 San Jose, CA 95134