How Audit Protection Insurance Can Secure You Against The IRS

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If you don’t have an audit protection insurance in place, you may receive an audit notification and it will cost you around $3,500 to $10,000, and won’t be defended by a licensed tax professional in an audit.

This is a fact. The IRS can send out around nine million automated notices. Once you receive the IRS letter, they will claim that you owe them money, or claim you didn’t report something properly. This will need some defence as the IRS considers you guilty until you prove to be innocent. They have a power to charge your bank accounts and furnish your wages even without a court order.

However, if you have an audit protection insurance, it will save you time and money. A small fee is added to your tax preparation invoice. It will protect you in times when tax authorities deal with you especially if you receive a notice from them. A representative can act as your agent and defend you on your behalf. You don’t even need to face them.

You can even have the option not to be covered by the plan; unless you agree protection by paying a small fee. If you choose not to be covered by the audit protection insurance, you will need to pay an hourly rate just if you receive a notice from the state or IRS.

Note that tax identity fraud is rising. In the past two years alone, more than millions of Americans lost their tax identity to thieves worth $5.8 billion for deceitful claims. It happens most of the time more than you realize and how do you expect to prove yourself that you are you?

The audit protection insurance will recover your tax identity and audit representation once you get a notice from the IRS. It will protect your time, money and all the frustration you need to undergo just trying to resolve the issues yourself.

With this insurance plan, you will be protected from having to deal with tax authorities by yourself. And if you receive a summon from the IRS to meet in person, a representative can stand on your behalf. You just need to pay for the audit protection plan, and they’ll do the rest.

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