We don't want to sugarcoat things: Getting hit with an IRS "field audit" is a worst-case scenario and a cause for genuine concern. The process is expensive, time-consuming and requires a more comprehensive defense strategy than the other two types of audits we've discussed in our audit series ("correspondence audits" handled through the mail and "office audits" performed at an IRS office).
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Favoritism has a long history of not being deemed an illegal workplace act. But under certain circumstances, favoritism that results from an office romance may amount to sexual discrimination or harassment. And since over half of the employees in a national workforce survey have admitted to having dated co-workers, you definitely want to pay attention to what the EEOC and the California supreme court had to say about favoritism and office romances.
The first piece of our audit series explained how you can breeze through an IRS "correspondence audit" conducted through the mail. But the stakes are considerably higher—as is the stress level—if you're tapped for an IRS "office audit."
An experienced tax adviser can provide a security blanket if you're intimidated by the process. And he or she won't likely take the "bait" if the auditor goes on a fishing trip.
Benefit: Helping your organization meet SarbOx mandates enhances your role as a strategic partner.