The mere thought of an IRS audit can make many people nervous. If the IRS actually sends you a letter in the mail, it can put you into a complete panic mode. However, you shouldn’t have anything to worry about if you are telling the truth. It’s possible that the IRS is sending you a letter because you made a simple math error or forgot to include additional income.
If the IRS has sent you an audit letter, you may want to take the following steps:
Respond as Soon as Possible
When you receive an IRS audit letter, you may become very upset and even try to deny the process is happening. However, if you don’t respond within the time limit they provide, you may have to deal with more issues. It is in your best interest to respond to the IRS as quickly as possible to at least notify them that you have received their letter.
Get the Necessary Paperwork Ready
After finding out about the specific paperwork you need to show the IRS, it’s time to get it ready. Whether the IRS requests copies of pay stubs or previous tax returns, you should carefully organize them in a clean folder.
Consult With a Tax Professional
No matter what kind of tax problems you are dealing with, you don’t want to tackle an audit by yourself. If you don’t have knowledge of tax laws, you might make a mistake and make things more difficult on yourself. If you hire an experienced tax professional, he or she will ensure your rights are protected and help you avoid possible IRS collection. A pro knows the IRS tax code in and out and will help you resolve your issue, should it prove more complex than expected.
Be Aware of Your Rights
While it’s important to be polite and truthful when speaking to the IRS, you should keep in mind that you have a right to fair treatment too. For example, you have a right to courteous treatment by IRS employees and a right to know why the IRS is asking certain information.
After your meeting about your IRS audit, you should be able to come to a fair agreement. However, if you can’t come to an agreement, you can file for an appeal. Professional representation can help you every step of the way, so you don’t have to deal with it directly.
Have you received an IRS Audit Letter? Protect yourself. Protect your business. Contact IRS Solver for a consultation.