Preparing for an audit will be a lot easier if you have an effective recordkeeping system that you maintain throughout the year. However, if there are any documents such as medical bills or donation receipts that you do not readily have available, contact the appropriate organization and request the documents you need.
Going through all this fiscal terminology can be difficult if you are a layman. Hiring a CPA in Rancho Cucamonga can be great for acquiring some sound financial advice. These professionals understand the tax code and have likely gone through an audit before, so they can tell you what to expect and also help you to prepare adequately.
Even if the error was an honest mistake, officials at the IRS may assume there was some malicious intent behind the error. Do not let your emotions get the best of you during the audit. Arrive to your audit on-time, stay calm, and answer all questions asked to you truthfully. If you can’t provide what they need, you can reschedule your appointment.
A tax audit is usually random, but if one of your figures triggers a red flag on the IRS computers and the amount is considerable, it is most likely that an audit is inevitable. Most people get through a tax audit completely unscathed. Sometimes it’s even discovered that the IRS is the one who owes you money. Whatever the results are, don’t panic, the issue can be resolved fairly and you can go back to enjoying life again.