How to Answer: Have you been involved in a corporate tax audit before? What did you learn from that experience?
Advice and answer examples written specifically for a Paul, Weiss, Rifkind, Wharton and Garrison job interview.
3. Have you been involved in a corporate tax audit before? What did you learn from that experience?
How to Answer
Paul, Weiss, Rifkind, Wharton and Garrison is often called upon for their legal guidance when a business is facing a tax audit. For this question, your interviewer is looking to see if you have experience working under IRS audit conditions and to hear what vital information you could bring to the team if hired. If you have experience, talk in detail about the type of organization you represented and what the audit entailed. If you don't have direct experience working with an IRS audit, talk about your working knowledge of the audit process and what your role would be in that.
Written by Ryan Brunner on June 25th, 2019
1st Answer Example
"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."
Written by Ryan Brunner on June 25th, 2019
2nd Answer Example
"Two years ago, I was brought in to a very large, well known corporation that was receiving a tax audit from the IRS. While knowing that the accounting and finance procedures of the organization were spot on, my role was mainly to fully prepare them for the field audit that was happening in two weeks. Knowing the audit process well and reading the request from IRS, I was able to work with them on preparation for the field meeting in having all documentation prepared and being ready for any form of questions the auditors would bring. On the day of the audit, I was onsite representing the team and audit went very well."
Written by Ryan Brunner on June 25th, 2019