Audit Shield® Q & A
Q: What is Audit Shield?
A: Audit Shield is an extended warranty program for tax returns. The program protects against miscalculations by your preparer’s tax return preparation software and certain preparer errors by providing reimbursement of up to $2,500 for related penalties, interest or additional taxes assessed by the IRS on your qualifying federal tax return.
Q: What does it cost?
A: The one-time Audit Shield fee of $29.95 protects your qualifying federal return for up to three years.
Q: What returns qualify for Audit Shield protection?
A: Most individual federal tax returns as long as you are filing electronically. Returns that contain Schedules C, E or F do not qualify for Audit Shield.
Q: How do I know whether my return qualifies?
A: That’s easy. When your preparer completes your tax return, the tax return preparation software will determine whether your return qualifies for Audit Shield.
Q: What do I have to do to make a claim?
A: You must notify Audit Shield Management Services (ASMS) as specified on your
Audit Shield Protection Certificate, of any IRS correspondence or notice regarding your return within 30 days of receiving such notice, and you must provide ASMS with all pertinent forms and documents and a copy of the return within 45 days of receiving such IRS notice. After that, you simply have to cooperate with any requests for substantiation or support of the information in your return. For questions about, or to report claims under the Audit Shield Program call 1-800-296-2621. All documentation in support of claims should be mailed to CCH SFS, Audit Shield Management Services Division, 225 Chastain Meadows Court NW, Suite 200, Kennesaw, Georgia, 30144 or faxed to 770-857-5610.
Q: How long does it take for ASMS to process a claim?
A: It typically takes 8-10 weeks for a claim to be fully processed by ASMS. However, it may take longer if ASMS is unable to contact the tax payer or tax preparer for documentation or additional information.
Q: Should I respond directly to the IRS?
A: Yes, unless ASMS expressly instructs otherwise, it is the your responsibility to answer all IRS inquiries or requests for additional information. You are also responsible for making all payments to the IRS in a timely manner, even if ASMS has not finished processing the claim. Audit Shield does not cover any additional fees, penalties, or interests that result because the taxpayer did not respond to the IRS in the required time period.
Q: If I am audited, will an Audit Shield representative attend?
A: ASMS may decide, at its sole discretion, whether a tax professional should be present at the audit to assist in explaining how your return was calculated. The fees for such professional will be deducted from your $2,500 coverage amount. Such fees are limited to no more than four hours at a rate of no more than $100 per hour.
Q: Can my coverage be voided?
A: Yes. You will forfeit coverage of penalties, interest or additional taxes resulting from incorrect, incomplete or misleading information you provided to your tax preparer or if you cannot provide sufficient records to support any claim, credit or deduction or other item on your return or if you fail to make timely payment of all taxes shown to be due on your return.
These FAQs are for informational purposes only and do not constitute a legal obligation on the part of ASMS. Please see the Audit Shield Certificate for the complete legally binding terms and conditions.
