IRS Audit Tips And Advice

Everyone dread’s the thought of one day opening up a letter from the IRS to find out that they’re being audited. So now what? How should you reply to a letter like this?

Although a lot of folks break down because they understand that the IRS will be demanding to view their books and expense receipts, the reality of the situation is that the best audit advice is to remain calm and get together the data that you need. You should be thorough and as accurate as possible without worrying.

Before choosing to just set this aside for another day, take a few minutes and think about what you should do now. It is a good idea to call the IRS office to find out what is going on and what day they are wanting to meet with you to go over the paperwork. Making this one phone call will help shed some light on the situation and will aid in helping you to decide how to proceed.

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Remember when you are on the phone with the IRS representative that it is not their fault you are being audited. They are simpliy answering the phone and trying to help you. If you have been up front and honest about your situation, there really is no reason to be worried.

If you discover that you will need some additional time don’t be afraid to ask for an extension. In many circumstances the auditor will grant this extra time, particularly if you have been honest with the auditor and have not been difficult to work with. But if you wait to call until the last minute, you run the risk of not getting an extension and having no time to come up with the information needed. Just explain your situation to them and why you need the additional time to get the information together.

In Closing

Lastly, it’s crucial to know that almost all audits are simply requested because of minor addition errors. You likely totaled up or subtracted wrong, or wrote down the data on the incorrect line. You may also have used the incorrect form. These types of audits are the most common. So keep a positive attitude and be honest with the auditor. Likely all you will need to do is fix some minor mistakes and then get on with your life. Believe it or not they understand and they are humen as well.

Hubert Miles is a free lance writer and webmaster for several financial websites. For more information on Finance Information and Financial Information.