If you’ve just received an audit letter from the IRS, you’re probably worried and upset. While you have every right to be a little anxious about the prospect of an audit, don’t let that get the best of you. Instead, moving swiftly into action can help limit the ramifications of the audit and reduce your stress throughout the process.
The first thing you should do is read the entire audit letter very carefully. Your IRS audit letter will contain a deadline, and this deadline will allow you ample time to prepare a response. This letter will also detail whether your audit examination will be by mail or in-person. If the audit is to be conducted by mail, the letter will request additional information about items on your tax return, including your income, expenses, and deductions.
Seek Tax Advice
Once you’ve read your IRS audit letter, you’ll want to contact a tax resolution specialist as soon as possible. This is the best way to ensure your audit has the most favorable outcome possible under the circumstances. Even if you want to prepare your own response to the IRS, getting advice from a tax expert will help make certain you address the audit request appropriately and effectively.
If you need assistance preparing for an audit, Taxation Solutions, Inc. is here for you. Our tax help pros can help plan an appropriate audit defense as well as represent you before the IRS in audits. We will work hard to ensure your audit is as stress-free as possible!