Writing Off IRS Audit Cost?
September 10th, 2009If you are audited by the IRS, can you write off the cost incurred during the audit, such as bills from your cpa?
I’m a loan officer who is 1099′d. I am currently undergoing an IRS tax audit for the years of 2004 and 2005. I have probably paid my cpa in the neighborhood of thousands of dollars so far and I was just curious if I could write off this money as a business expense, or in some other way.
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Yes, as a legal/accounting fee. You’ll be able to deduct it on your tax return.