Everyone dread's the thought of one day opening up a letter from the IRS to find out that they're being audited. So now what? How should you reply to a letter like this?
If is understandable that you may be scared about meeting with the auditor, but the best advice you can get is to not panic. Gather all your expense receipts and accounting records together when preparing yourself. Be careful to get all the information together and try not to worry about what the auditor will say or do. You can only control what you can control.
Before choosing to just set this aside for another day, take a few minutes and think about what you should do now. It is a good idea to call the IRS office to find out what is going on and what day they are wanting to meet with you to go over the paperwork. Making this one phone call will help shed some light on the situation and will aid in helping you to decide how to proceed.
Also keep in mind not to blame the person on the other line. It's not their fault and they are just doing their job. It's also not your fault either and as long as you were honest and be forthright with the auditor, everything should be ok.
If you discover that you will need some additional time don't be afraid to ask for an extension. In many circumstances the auditor will grant this extra time, particularly if you have been honest with the auditor and have not been difficult to work with. But if you wait to call until the last minute, you run the risk of not getting an extension and having no time to come up with the information needed. Just explain your situation to them and why you need the additional 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.
If is understandable that you may be scared about meeting with the auditor, but the best advice you can get is to not panic. Gather all your expense receipts and accounting records together when preparing yourself. Be careful to get all the information together and try not to worry about what the auditor will say or do. You can only control what you can control.
Before choosing to just set this aside for another day, take a few minutes and think about what you should do now. It is a good idea to call the IRS office to find out what is going on and what day they are wanting to meet with you to go over the paperwork. Making this one phone call will help shed some light on the situation and will aid in helping you to decide how to proceed.
Also keep in mind not to blame the person on the other line. It's not their fault and they are just doing their job. It's also not your fault either and as long as you were honest and be forthright with the auditor, everything should be ok.
If you discover that you will need some additional time don't be afraid to ask for an extension. In many circumstances the auditor will grant this extra time, particularly if you have been honest with the auditor and have not been difficult to work with. But if you wait to call until the last minute, you run the risk of not getting an extension and having no time to come up with the information needed. Just explain your situation to them and why you need the additional 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 Personal Finance Articles and Money Articles.
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