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In Case Of An IRS Audit, What To Do?
By Darrin Mish
No matter what your IRS problem is, you have rights to ensure that you will be treated fairly. To be safeguarded in an IRS audit, you must be aware of what your rights are. An explanation of what's going to happen and what is happening during an audit proceeding is your right. You also have the right for representation by a CPA, tax lawyer, or enrolled agent. You have the right to claim additional deductions that were unclaimed in your original tax return. Any problems that arise with your particular IRS auditor can be reported the national IRS office is also another one of your rights. When going through an audit, it's advised to read the Taxpayer's Bill of Rights, or IRS Publication 1. All the taxpayer's basic rights are contained in this booklet. To offer you more time to refresh your memory regarding your tax return's contents, as well as to gather supporting documents, you can postpone your audit. Like any meeting of such sensitivity, it's advised to meet with your counsel before you actually meet with the IRS auditing agent. This is to provide you an opportunity to create a strategy on how to handle the problems that the auditor will bring up, whether you're working with a CPA or a tax attorney. It is advised to only bring documents required in the notice pertaining to the case. IRS problems may result if you bring any more. The auditor might be prompted to delve further into areas that they initially overlooked. The best way to quickly end an audit is to be prepared. The auditor will realize that you will be able to support any issues of your tax return with documentation if you are able to back up all your claims. Obviously, audits can be intense and stressful. Make sure that you are always polite and courteous, no matter how heated the situation is. At the same time, you need to expect to be treated in the same manner by the IRS agent who is conducting your audit. Finally, the most essential and simplest thing to do in an audit is to tell the truth. Lying will not assist you. That sole fact alone can save you plenty of trouble and help you with any IRS issue. |
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