What To Do If You Are Being Audited By The IRS

Posted on: 20 December 2019

Getting audited by the IRS can be a very scary thing for most people, especially for anyone that has never been audited in the past. They might not know what to do or what to expect through the entire process. To help make sure that you are on the right track with what to do should you receive a notice from the IRS stating that you are being audited, you will want to check out the following information.

Gather All Of Your Documentation

One of the first things that you are going to want to do is to gather all documentation that was used for the tax year that you are being audited over. This includes everything from pay stubs to bank statements and invoices and receipts used for deductions. Try not to leave out anything, even if it is just a receipt for gasoline that you used for a deduction for your business. The more documentation you are missing, the more likely it is that the IRS will determine that you owe them more money.

Search For Professional Help

If you have never been through an IRS audit before, you might want not want to go through this process alone. You would not want to do or say anything that can harm your case. Therefore, you will want to hire a lawyer or an audit protection service so you do not have to go to the audit meeting on your own. You will discuss everything with them before the meeting and then they will speak on your behalf once they get before the IRS and have to represent your case.

With all of that in mind, you should find that you will be able to become a little more prepared to handle an IRS audit. Make sure that you are keeping your cool and that you are gathering all of your tax forms, pay records, and receipts used for deductions. The more evidence you have for why you filed your taxes the way you did, the less likely it is that the IRS is going to be able to find reason to charge you any more money than you have already paid to them. When you need help, make sure that you are reaching out to a professional. Pay the legal fee audit assistance and you will be able to get through this process with as much ease as possible.


Money Management Tips for Parents

My wife and I both had very successful careers when we had our first child, so I never expected to struggle financially after we had her. Things were great for a while, although raising a child was a bit more expensive than we expected. Unfortunately, I ended up getting laid off from my job and that is when money got really tight for us. The silver lining was that we really saved on child care expenses while I was laid off. While I am finally now working again, raising a child on one income was a struggle and we learned many budgeting and money management tips and tricks along the way that helped keep us afloat financially. I decided to create a blog to share those tips with other parents in similar tough situations. I hope I can help you end your financial struggle!


Latest Posts