No reaction when receiving an LoA is a Mistake 25 Frequently Asked Question BIR Letter of Authority

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What to do if I receive a BIR Letter of Authority
How long does a BIR audit take
What documents do I need to provide to the BIR during an audit
Can I refuse to be audited by the BIR
What are my rights during a BIR audit
What are the consequences of being audited by the BIR
How to prepare for a BIR audit
How to handle a BIR audit with a rude revenue officer
How to get a BIR audit waived
How to appeal a BIR audit finding

INSPECTION OF BOOKS, REGISTERS AND RECORDS. – All books, registers and records, and vouchers and other supporting papers required by these regulations shall be kept at all times at the place of business of the taxpayer, subject to inspection of any internal revenue officer, and upon demand, the same must be immediately produced and submitted for inspection. When required by inspecting officers, the owner, bookkeeper, or manager shall give the necessary explanations regarding the items in the entries contained in the said books, registers and records. In the case of a branch store, or where the controlling books are kept in the place other than the business establishment such books and records as would clearly reflect all the transactions effected therein. When the books, register, record and other papers are needed by an internal revenue officer for examination outside of the taxpayer’s place of business, the said officer shall issue a receipt therefor on the required internal revenue form.

🤍Basic Answers to Common Questions
Q: What should I do if I receive a BIR Letter of Authority?

A: You should cooperate with the BIR revenue officers who will be conducting the audit or investigation. Provide them with all the requested documents and information. You may also want to consult with a tax advisor to help you with the process.

Q: What happens if I disagree with a deficiency assessment?

A: You have 30 days from the date you receive the deficiency assessment to file a protest with the BIR. The protest must be in writing and must state the reasons why you disagree with the assessment.

If the BIR does not approve your protest, you may file a petition with the Court of Tax Appeals.

Q: Can I pay a deficiency assessment in installments?

A: Yes, you may be able to pay a deficiency assessment in installments. However, you must request this from the BIR and the BIR must approve your request.

Q: What are the common grounds for deficiency assessments?

A: The common grounds for deficiency assessments include:

Failure to file a tax return
Filing an incorrect tax return
Failure to pay taxes on time
Underreporting of income
Overstating deductions

Q: Can I be audited even if I filed my tax return on time and paid all my taxes?

A: Yes, you can still be audited even if you filed your tax return on time and paid all your taxes. The BIR may select taxpayers for audit for a variety of reasons, such as random selection, industry-wide audits, or specific leads.

Q: What should I do to prepare for an audit?

A: The best way to prepare for an audit is to keep accurate and complete records of your income and expenses. You should also be familiar with the tax laws that apply to you.

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