It's a fear of most people that some day they will get a letter from the IRS stating that they are being audited. What should you do now that you have got this letter?
While many people are fearful once they realize that the IRS will be asking to see their accounting files and expense reports, the fact of the matter is that the best advice you can get is to stay calm and gather the information that you need. You ought to be thorough and as precise as you can and not worry yourself about the situation.
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.
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 need some additional time to get all your information together, you can ask for a postponement. A postponement can be asked for and granted in many circumstances. Also, if you have be upfront with the IRS you stand a better chance of getting the postponement granted. Now this is very important: do not postpone calling until the last minute either! Get on the phone and get your request in early. Explain to them that you need more time to get the information together.
Closing Comments
Finally, it's important to recognize that just about all audits are merely called for because of small mistakes. You probably added up or deducted incorrectly, or wrote down the information on the wrong line. That type of matter happens daily. This audit advice is to not be afraid, be honest about what is going on, and then fix the mistake. By approaching the situation with a positive attitude, the IRS auditor will be willing to work with you. Despite popular belief they are human too. - 29969
While many people are fearful once they realize that the IRS will be asking to see their accounting files and expense reports, the fact of the matter is that the best advice you can get is to stay calm and gather the information that you need. You ought to be thorough and as precise as you can and not worry yourself about the situation.
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.
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 need some additional time to get all your information together, you can ask for a postponement. A postponement can be asked for and granted in many circumstances. Also, if you have be upfront with the IRS you stand a better chance of getting the postponement granted. Now this is very important: do not postpone calling until the last minute either! Get on the phone and get your request in early. Explain to them that you need more time to get the information together.
Closing Comments
Finally, it's important to recognize that just about all audits are merely called for because of small mistakes. You probably added up or deducted incorrectly, or wrote down the information on the wrong line. That type of matter happens daily. This audit advice is to not be afraid, be honest about what is going on, and then fix the mistake. By approaching the situation with a positive attitude, the IRS auditor will be willing to work with you. Despite popular belief they are human too. - 29969
About the Author:
Hubert Miles is a free lance writer and webmaster for several financial websites. For more information on Personal Finance Blog and Personal Finance Articles.
