Absolute Trust Talk

171: IRS Audits Uncovered: What Triggers Them and How to Prepare


Listen Later

Few things are as nerve-wracking as receiving an IRS audit notice—but how do audits really work, and what can you do to protect yourself? In this episode of Absolute Trust Talk, Kirsten Howe sits down with Anthony Kim, a former IRS Chief Counsel Attorney with 26+ years of experience, to reveal the truth behind IRS audits. Tony, who has litigated complex tax cases for the U.S. Treasury Department and represented Fortune 500 companies and high-net-worth individuals at Ernst & Young, shares insider knowledge on what triggers audits, the IRS selection process, and how to avoid common red flags. You'll learn why IRS audits are rarer than you think, the top mistakes taxpayers make, and why choosing the right representative—CPA or tax attorney?—could make or break your case. Plus, Tony drops a little-known IRS tip that could save you from missed notices and financial headaches. Don't leave your financial future to chance! Listen now to get expert advice on navigating an IRS audit with confidence.

Time-stamped Show Notes:

0:00 Introduction

0:57 Meet Anthony Kim: Former IRS Chief Counsel Attorney & tax expert

3:42 What triggers an IRS audit? Common red flags explained.

6:28 Whistleblower reports and third-party mismatches—how they lead to audits

7:46 The truth about audit risk: How rare are they, really?

8:43 Step one: How the IRS contacts you—don't fall for scams!

10:00 The one IRS form every taxpayer should file after moving

11:00 The biggest mistake taxpayers make—what NOT to say in an audit

15:32 The worst-case audit scenarios and how to avoid them

16:49 Why even a low-risk audit could turn into a criminal case

17:24 Who should represent you in an audit? CPA vs. tax attorney debate

21:38 What happens at the end of an audit—how decisions are made

22:47 How to challenge an IRS audit decision and file a protest letter

Take the Next Step in Your Estate Planning Journey

If this episode resonated with you, we'd love to help you with your own estate planning needs in California. Schedule a complimentary discovery call with our team at Absolute Trust Counsel. During this no-obligation conversation, we'll:

  1. Learn about your unique situation and goals
  2. Answer questions about our services
  3. Determine if we're the right fit to work together

Visit https://absolutetrustcounsel.com/scheduling/ or call 925-943-2740 to schedule your free discovery call today.

Follow and Review:

We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a couple second and it helps spread the word about the podcast.

Episode Credits: The Absolute Trust Talk podcast is brought to you with the help of Q2Mark, led by Chief Marketing Officer Susie Hays. Since 2016, Q2Mark has partnered with Absolute Trust Counsel on all marketing communications—from brand development and website design to this podcast series with over 192 episodes, social media management, video production, and more. If you're business owner looking for comprehensive marketing support, visit Q2Mark.com.

...more
View all episodesView all episodes
Download on the App Store

Absolute Trust TalkBy Kirsten Howe: Attorney and podcaster

  • 5
  • 5
  • 5
  • 5
  • 5

5

22 ratings


More shows like Absolute Trust Talk

View all
Planet Money by NPR

Planet Money

30,690 Listeners

Making Sense with Sam Harris by Sam Harris

Making Sense with Sam Harris

26,396 Listeners

Pod Save America by Pod Save America

Pod Save America

87,912 Listeners

American Scandal by Audible

American Scandal

19,151 Listeners

The Prof G Pod with Scott Galloway by Vox Media Podcast Network

The Prof G Pod with Scott Galloway

5,673 Listeners

Making Space with Hoda Kotb by Hoda Kotb, TODAY

Making Space with Hoda Kotb

10,612 Listeners

On with Kara Swisher by Vox Media

On with Kara Swisher

3,531 Listeners

Wiser Than Me with Julia Louis-Dreyfus by Lemonada Media

Wiser Than Me with Julia Louis-Dreyfus

11,294 Listeners

Good Hang with Amy Poehler by The Ringer

Good Hang with Amy Poehler

13,154 Listeners