If you are selected for an audit, well, you have little choice but to follow through with it. However, that does not mean you should simply raise your hands and give up. There are things you can do; you should strive to minimize the financial impact and to try preventing the IRS from investigating more than the initial items selected for your audit.
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Sometimes you can get tax debt relief or owe nothing more after the audit, at least. However it is more likely that you will still owe money. It is essential to understand how to go into an audit to be able to prevent the IRS from looking at any more information in depth. In this article I wish to outline some IRS audit tips, those which I and my colleagues have found particularly helpful through the audit process.
Before you go into your audit there are few things you should understand about the average tax auditor. These guys have a really tough and stressful job. This is mostly because many people resent the fact that they are being audited, and they tend to take this out on the auditors.
I suggest you try and keep calm around the auditor and try and keep in mind that the auditor is simply trying to do his job and not trying to spite or hurt you financially, be calm and remain reasonable. Another thing to keep in mind is that the auditors are specifically trained to keep an eye out for things that don’t add up or out of the ordinary, which is to say you ought to avoid showing or telling the auditors about things that have not been asked about. Remember, a little politeness goes a long way.
HIRE SOMEONE WHO KNOWS WHAT THEY ARE DOING
Enrolled agents and irs tax attorney can represent you at an audit. They are officially trained in tax law and can therefore represent you with far better results than you could hope to achieve on your own. To a layman the tax code is like a completely foreign language. Enrolled agents have been around for quite a long while, since the post-Civil War days, at least. And the training they go through is quite grueling and efficient.
WRITE THINGS DOWN AND MAINTAIN GOOD RECORDS
Don’t just pull out your records all together year by year on the 15th of April! Develop the habit of keeping and maintaining primary and secondary records all year-round. And think about using a personalized filing system to keep your records close to the right tax return. This way, if you’re being audited, you’re prepared. Primary records are things like bills and receipts. While secondary records could be anything from spreadsheets to mileage logs, and any other sort of summary info that might be important.
COLLECT INFORMATION
Haven’t kept records for the Tax year in question? That’s alright, we’ve all done that, once or twice. The solution is quite simple, albeit a little arduous and time consuming. You need to go back to that year and try to recreate those records as accurately as you can. If you’ve claimed any expenses in certain areas, e.g. medical expenses, it is possible that your doctor or hospital still have your medical records on file. Don’t hesitate to ask for them, most doctors would not think twice about the request.
You can also call up your place of employment and ask for duplicate W-2s or 1099 forms. You can check with the mortgage company for your interest expenses for that year. Once you have all you can collect, put everything it all in a neat and simple format, summarized and with supporting documentation for the auditor to have a look at.
Whatever you do, don’t duck the IRS if they should come calling. Enlist a tax pro if you’re unsure of how to respond to an audit notice.
Advance Tax Relief offers an experienced team of tax professionals who specialize in working directly with the IRS to solve difficult tax issues for businesses as well as individuals with back taxes or other tax issues. Contact us today at 800-790-8574 for more information or to schedule a consultation.
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So, if you have IRS Problems, Owe Taxes, have Past Due UnFiled Tax Returns – Take action today! You should work with a local tax relief firm. Call Advance Tax Relief (800) 790-8574
GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2017 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund.
Advance Tax Relief has a offices in Houston, TX and Los Angeles, CA and helps many individuals just like you work with the IRS to solve a wide variety of issues, including penalty waivers, wage garnishment release, bank levy release, tax audit representation, back tax return preparation and the IRS Fresh Start Initiative. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back taxes.
Call our team today at 800-790-8574 for more information. For a free consultation, schedule an appointment with us online.
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