There are forms an Auditor may ask you to sign that can take away your rights.
You could lose your right to appeal, your right to claim deductions and your right to prevent enforced collection action.
Form 872 is one of these forms. It extends the amount of time the IRS can take to assess a tax ... time they may not have if you don't sign.
If you do not feel comfortable about your rights during an audit procedure, it is always in your best interest to consult or hire a professional to assist you with the process and your rights.
It is always best to be proactice rather than reactive!
S. Raines, Sr. Financial Advisor/Tax Preparer
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