Posts
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.
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.
In Closing
It is important to note that many of the audits done by the IRS are simply for minor errors such as adding or subtracting wrong. Other common errors are omitting information, incorrect social security numbers, writing a number on a wrong line, or using the wrong form. So don't let fear consume you. Be positive about the situation and be honest with the auditor. Generally you can just fix the mistake and that will be the end of it. Remember they are human too.
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.
In Closing
It is important to note that many of the audits done by the IRS are simply for minor errors such as adding or subtracting wrong. Other common errors are omitting information, incorrect social security numbers, writing a number on a wrong line, or using the wrong form. So don't let fear consume you. Be positive about the situation and be honest with the auditor. Generally you can just fix the mistake and that will be the end of it. Remember they are human too.
About the Author:
Hubert Miles is a free lance writer and webmaster for several financial websites. For more information on Money Articles and Financial Articles.
No comments:
Post a Comment