So You're Getting An Audit From The Irs Part One

In the land of the bald eagle and apple pie, a letter in the mail informing you that

you are going to be audited by the Internal Revenue Service can make even the bravest American's toes curl. Last year, 154 million individual tax returns were filed, and in this same year, the IRS audited 1.4 million individual income tax returns.

But, out of the 1.4 million audits, 1.1 million of these audits were done by correspondence. In only 320, 249 cases did an IRS agent pay a friendly visit to the taxpayer or their representative. So, your first step is to figure out what type of audit is coming your way.

If your pals at the IRS are proposing adjustments to your tax return by correspondence, they will grace you with a chance to reply to them and tell them why you don't agree. Maybe there was a simple math error or your tax return.

Unless you are sure that you fully comprehend the adjustments the Internal Revenue Service is proposing and you agree with them (not likely!) you should seek the advice of a competent tax professional and speak with them. If you can't come to a resolution on the matter with the IRS and you find that the amount in question is enough for you to contest, then you need to hire a professional to represent you before the IRS.

But what if you fall into one of those 320,249 cases? What if the Internal Revenue Service is sending out one of their auditors to take a look at your tax returns? Well, that's serious business. Bear in mind that the IRS sends out a real live auditor for about one in five hundred tax returns that are filed, and if they are sending one out for you, you are going to need a tax professional who is adept to represent you. To Be Continued In Parts Two And Three...

by: Mallory Megan

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