3 Tips for Dealing With an IRS Tax Audit

Most people aren’t overly fond of doing their taxes. For some people, it’s tedious, boring work. Other people dislike tax time because it inevitably means they’re going to be paying Uncle Sam more money.

Despite your feelings on the subject, it’s important to exercise caution while filing your taxes. Any incorrect information, omitted information, or improper claims could lead to an IRS tax audit.

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If you fail this audit, you could be looking at major fines and penalties. The question is what do you do if you trigger a federal tax audit after filing taxes?

We are going to help you answer this question. Keep reading for everything you need to know about how to handle the tax audit process.

  1. Hire a Tax Attorney

Seeking professional help is the very first thing you need to do after triggering an IRS tax audit. Contact a local tax attorney to look over your case and advise you on how to proceed.

They can help you mitigate the damages. If you have done something illegal, they can help you achieve less severe penalties. In extreme cases, a tax attorney could help you avoid thousands of dollars in fines and even jail time.

Reach out to the top law firms in your area to get a consultation with a tax lawyer. Then, you can decide how to move forward.

  1. Start Collecting Your Tax Documents and Information

If you’ve triggered a federal tax audit after filing your taxes, you’re going to have to work with an IRS agent to go over all of your documents and information. Start collecting your expense receipts, earning statements, charity receipts, and all other important documents now.

The more organized and prepare you are for the IRS agent, the better. Talk to your tax attorney to identify everything you need. You’ll also need to get your hands on your tax returns from the previous few years.

  1. Be Responsive and Cooperative With the IRS

Going through an IRS tax audit is completely disruptive to your life. If you were selected for a federal tax audit, it can be incredibly frustrating, especially if you believe yourself to be innocent of unethical behavior.

However, it’s imperative to be 100% cooperative with the IRS. Any signs of resistance will make them question your motives. It will also give them further cause to turn your life upside down while assessing your last few years of finances.

Just as importantly, respond quickly to your IRS agent. Just because you’re being audited, it doesn’t mean the agent isn’t on your side. The better you work with them, the sooner this will all be over.

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Are You Dealing With an IRS Tax Audit?

If you’ve triggered an IRS tax audit, stay calm and contact a tax attorney. We’re sorry to hear about your predicament. If you follow the tips listed above, it can make your experience a little easier.

And if you’re looking for more financial tips or legal suggestions, we’ve got more to offer. Check out some of our other articles to find more helpful information. Our blog is here to provide answers and solutions.