Inland Revenue Department “IRD” risk reviews, Tax Investigations, Tax Audits, unpleasant as they may be, can be a fact of doing business. Tax reviews and investigations can be stressful, time-consuming, not to mention the impact it can have on a business. Here at RSM we provide a range of support services to taxpayers in the tax investigation space such as;
- Dealing, liaising and corresponding with IRD in relation to tax risk Audits, enquires and tax investigations
- Finalising agreements in tax investigations
- Carrying out pre-tax investigation and tax compliance “health-check” reviews for all tax heads
- Preparation and submission of Voluntary disclosures requesting remission or reduction of penalties
- Preparation and submission of requests to amend assessments
- Can liaise with member firms for international support where queries or tax investigations arise in other jurisdictions
- Advise on the appropriate use of tax pooling to reduce exposure to use of money interest
Video "All about Inland Revenue Audits" courtesy of Inland Revenue (IRD) New Zealand YouTube channel
Have you received a letter from IRD requesting information and are not sure as to how best to deal with it? Worried about an impending Audit? Have you realised you have made an error when filing your tax returns and want to know the best way to rectify it whilst minimizing your exposure to shortfall penalties? We can help.
When dealing with tax reviews or mistakes in a tax position or return, prompt action is the best course to take.
Our tax team have extensive experience in managing and dealing with tax investigations ranging from simple verification queries to full in depth tax audits. If you find yourself in the Audit space or have identified an error in your tax affairs that you want to rectify, talk to us. We can assist with reviewing historical tax positions, preparing submission to IRD and finalising agreements to close an Audit out. If you have a problem don’t ignore it and seek advice as soon as possible.