IRS Audit Tips and Advice

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?

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.

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.

Also keep in mind not to blame the person on the other line. It’s not their fault and they are just doing their job. It’s also not your fault either and as long as you were honest and be forthright with the auditor, everything should be ok.

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.

Final Remarks

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.

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

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