Voluntary tax audit

[Proud_parent007]

Jurisdiction

New Jersey

My partner and I have formed a company 6 years ago. He handles every day operations payroll and taxes, I am the signing authority for taxes. I realized that he was doing tax fraud such as paying employees excessive cash as expenses as well as letting them use business cards for personal expenses.

I am really scared if IRS performs audit what else is there that I don't know of. I want to make any possible corrections if possible. Is it possible to have the company audited voluntarily or have a third party audit and give some sort of certification that I have put in an effort to rectify things

 

[adjusterjack]

In your other thread you were advised to consult a tax attorney and a civil litigation attorney. That advice still goes.

Employee using business card for personal expenses

 

[zddoodah]

Yes. Also, don't post about potential tax fraud in a public forum where your identity could be relatively easily traced.

 

[Tax Counsel]

Is it possible to have the company audited voluntarily or have a third party audit and give some sort of certification that I have put in an effort to rectify things

You can't get a voluntary IRS audit, and even if you could, I wouldn't suggest doing it. You certainly can hire a CPA to audit the records and see if there are additional problems there that you need to address. Indeed, there are forensic CPAs who specialize in doing audits to uncover fraud and other irregularities.