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Apr 25, 2018

What can I do to prepare for an IRS tax audit?

There are some companies and individuals who are more likely to be under the IRS microscope as part of an audit than others. That is a simple reality that these individuals and companies sometimes realize well ahead of time. Those who are concerned that they might become the subject of an audit should prepare themselves for that possibility.

Document Everything

Every transaction should have a documented record somewhere. Tax-related items in particular are important to have such as donations or receipt of donations. Anything that the IRS might be interested in at some point in the future during an audit is something that you should hold on to and keep in a place that is fairly easy to get to. That is your best hope for having that information right when you need it.

Set Up A Meeting With The Auditor To Discuss Things Ahead Of Time

Some already know who their auditor is based on previous experiences with that individual. If that is the case for you, then setting up a meeting to go over things with him or her makes a lot of sense. After all, it is only possible to know where you stand if you take the time to hear what the IRS has to say about things.

Ask A Lot Of Questions

What you really want to know here is what the IRS is looking at in terms of of your particular audit. What facts and information are they seeking and how do they intend to track it down? That is something that you should want to know just for your own peace of mind. If you have those questions answered, then you can better prepare yourself for whatever bits of information they may be after in your case.

Don’t Stress

The last thing you want to do is throw on more stress on top of what you are already feeling. The IRS runs over people who are stressed out. They know just how much pressure they put people under when they are going through an audit. It is part of what the IRS does so well with these audits. By making people feel uncomfortable, the IRS can get the answers that they want from people as well as the results they are after. Do not allow yourself to get sucked into this game with them. Protect yourself and your interests always.

Be Respectful But Firm

There is not point in having an attitude with the IRS auditors. That will only result in your account getting looked at even more closely. Instead, try to be as respectful as you can. At the same time, firmly assert your position in this matter and do not back away from it. The IRS can tell when they are dealing with someone who knows what they are doing and someone who doesn’t. Prove to them that you are the type of person who knows what they are doing and will not stop until things work out as they are supposed to for you.

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New York, NY 10005

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Queens

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Astoria, NY 11106

Phone

888-977-6335

Brooklyn

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14th Floor,
Brooklyn, NY 11201

Phone

888-977-6335