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

Absolute Trust Talk

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3M ago 22:21

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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

139 episodes