Contact UsWhat happens in situation where IRS audits farther back than 6 years and person no longer has those years supporting documents & records? Are the credits, deductions, etc. with missing documentation voided?
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John Stancil
Unless the IRS suspects fraud, they can't normally initiate an audit that far back so it is unlikely to occur. The statute of limitations is 3 years from the due date or date the return is filed, whichever is later. In some cases the statute is six years. There is no statute of limitations on fraud. If you should be audited for a period in which you no longer have the records you are out of luck unless you can somehow get copies or make an acceptable reconstruction of your records.
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427 weeks ago
BOB BLUMENFELD
What is critical to remember is that the onus is on the IRS to prove fraud. They will then produce what they consider to be badges of fraud and it is then up to the taxpayer to refute them. The information upon which the IRS bases its case will give the taxpayer a starting point in refuting the allegation of fraud.
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426 weeks ago