Have you been involved in a corporate tax audit before? What did you learn from that experience?

"Two years ago, I represented a small business that retained my firm after being notified of an audit. From the start, it was pretty easy to understand that the business owner had failed to report some pretty significant chunks of business income based on records that weren't reported. When it appeared like the IRS was poised to bring in their criminal investigation team, I worked with the client and the auditor to negotiate the standard settlement of interest on missed payment plus a 20% penalty. The client was extremely pleased to avoid potential stricter penalties and learned some important lessons moving forward with their business."