| Although most of us worry about what would happen | | | | are missing documents make sure to get copies of |
| if the IRS knocked on our door asking for tax records, | | | | them because it is your responsibility to prove the |
| only a small percentage of Americans will ever be | | | | authenticity of your deductions and such. In addition, |
| audited. But what if you ended up being one of these | | | | providing a full and accurate accounting of your |
| select few? It is probably a good idea to seek out | | | | records will get you off on the right foot with the |
| professional tax advice if you are audited. However, if | | | | auditor, as opposed to having to explain discrepancies |
| you choose not to go this route then there are things | | | | or missing information. |
| you should know and do to help you get through the | | | | Another important thing to remember is that you have |
| process. | | | | to take responsibility for your materials. The IRS is not |
| The first thing to do is to respond and quickly. In most | | | | responsible for what you provide them and thus it is |
| instances you have 30 days to address and respond | | | | wise to bring copies to the auditor rather than originals |
| to the audit notification without penalty. Such penalties | | | | so that you can maintain the required documents for |
| often include bills sent to you. Next, information | | | | your personal records. Don't rely on the IRS to look out |
| recognition is essential. The IRS notice will inform you | | | | for your interests or inconvenience because they likely |
| of what is being looked at in the audit. It is important to | | | | may not. |
| read the notice carefully as knowing and understanding | | | | Lastly, if you have a disagreement with the IRS official |
| what is being examined will allow you bring the | | | | that cannot be worked out then appealing the decision |
| necessary materials with you to the audit. Don't bother | | | | is a possibility. However, it is important to recognize |
| bringing materials or information that isn't relevant to | | | | that appeals officials will likely be more knowledgeable |
| what is in question. There is no reason to give the | | | | and senior than the agent you dealt with. Hence both in |
| auditor more information than they have asked for, this | | | | terms of time and complication it is probably a good |
| can only hurt you or cause more issues. | | | | idea to try to figure out any problems with the original |
| Once you have collected the relevant information and | | | | agent without having to go through the process of an |
| documents, try to put them together in the proper | | | | appeal. |
| order. This will speed up the process, which is in the | | | | Hopefully these tips will help you get through the audit |
| best interest of you and the auditor as well. It is also | | | | process if you choose to go it alone without the help |
| important that you fill in any gaps in your records. If you | | | | of a tax professional. |