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Preparation for the Meeting with Your Tax Attorney

November 29, 2014 By wrlaw

Whether you are meeting with a tax attorney for help with tax planning or because the IRS has informed you that you will be audited, it is crucial for you to assist your attorney in the preparation. One of the first steps in preparation is a review all of your tax information, including your returns, IRS forms or schedules, and all documents relied upon in the preparation of your return. In addition, it is important that you bring all documents related to the issue that you will be discussing with your attorney. Here is a list of some specific documents you may want to bring:

A copy of your current and past years’ tax returns

Any correspondence you have had with the IRS regarding the issue about which you are
seeking advice

Documents showing your income from a job such as your Form W-2, pay stubs and bank statements

Documents showing other sources and amounts of income from investments, dividends, interest, business income, capital gains and losses, annuities, unemployment compensation, prizes and awards, gambling winnings and Social Security benefits

Documents relating to your home such as closing statements, purchase and sales contracts, mortgage interest statements and document that show the cost of any improvements to the home

Records relating to your investments (stocks, bonds, mutual funds, IRAs) that show purchase price, sales price, interest and commissions

Documents reflecting your expenses and possible deductions

If you have a tax issue related to your business, bring incorporation documents, documents showing your business’s structure and employees, balance sheets and its tax I.D. number

Documents reflecting your expenses and possible deductions can be broken down into numerous subcategories. Such documents might include sales slips, receipts and canceled checks.

If you have any of the following expenses, you should bring the listed documents to your meeting:
Medical expenses exceeding 7.5% of your adjusted gross income — hospital bills, doctor bills, therapy bills and records of all other medical expenses that you incurred

Alimony — divorce decree and separation agreement
Charitable contributions — cancelled checks and receipts from the organization that show how much you gave; records showing fair market value of property you donated; and records showing your out-of-pocket expenses when you perform services for a charitable organization

Mortgage interest — Form 1098 (you will receive it if you paid more than $600 of interest)

Taxes — records that show how much you paid in real estate tax, state income tax (your state income tax return or Form W-2, which shows how much state income tax was withheld) and other kinds of taxes

Business use of home — documents showing the part of your home that is used and expenses related to your business use

Business expenses such as travel and entertainment — receipts and other documents that show the cost of hotels, meals, rental cars, taxis, tips and other fees

Casualty and theft losses —records that show the type of loss (flood, hurricane, theft), what you lost, photographs of damage, appraisals and proof of ownership

Child care expenses — documents showing the name, address and taxpayer identification number for all persons or organizations that provide care

Education expenses — documents showing your qualified educational expenses, including tuition

Contact Wilson Ratledge and let one of the attorneys assist you with your tax needs.

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