Everybody is fearful of the possibility that some day they will get a letter from the Internal Revenue Service that they are going to be audited. What should you do now? How should you handle this situation?
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.
Prior to you deciding to put it to the side for a later date, take a few moments and start planning how you're going to respond to it. Get on the phone with the IRS and determine what is happening and at what time are they wanting to review your paperwork. This is an easy phone call that may assist you in determining what information you will need to get together before the meeting.
Likewise, bear in mind that the IRS representative that answered the phone is just doing their job. It's neither their fault or yours that you are getting audited. Provided you have been honest about your financial information you shoould not have anything to worry about.
Once you speak with the representative on the phone, you may determine that you need more time to get all the necessary documents together. In this case you may need to ask for a postponement. A postponement will grant you additional time to get the gather all the paperwork together. Many times these are granted provided you have been cooperative with the auditor and have a legitiment reason for needing the postponement. So don't wait to the last minute to get in touch with the auditor.
Closing Comments
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. - 31393
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.
Prior to you deciding to put it to the side for a later date, take a few moments and start planning how you're going to respond to it. Get on the phone with the IRS and determine what is happening and at what time are they wanting to review your paperwork. This is an easy phone call that may assist you in determining what information you will need to get together before the meeting.
Likewise, bear in mind that the IRS representative that answered the phone is just doing their job. It's neither their fault or yours that you are getting audited. Provided you have been honest about your financial information you shoould not have anything to worry about.
Once you speak with the representative on the phone, you may determine that you need more time to get all the necessary documents together. In this case you may need to ask for a postponement. A postponement will grant you additional time to get the gather all the paperwork together. Many times these are granted provided you have been cooperative with the auditor and have a legitiment reason for needing the postponement. So don't wait to the last minute to get in touch with the auditor.
Closing Comments
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. - 31393
About the Author:
Hubert Miles is a free lance writer and webmaster for several financial websites. For more information on Money Articles and Financial Articles.
