The IRS and Our Fear
The words IRS, (Internal Revenue Service), can strike terror in the heart of the bravest of us.
The suggestion of an audit by the IRS can bring tears to our eyes.
Even if we are honest and think we have done our tax return properly, we begin to second guess ourselves.
Did I remember to enter that tip I got, should I have entered that sale as a Capital Gains, should I have told them about the old car I got from uncle Abner's estate? Sleepless nights, hot sweats and tremors are all symptoms of an impending IRS audit.
Well calm down and know that all is not lost.
The IRA audits are pretty randomly selected and it does not mean that you have done anything wrong.
It also is true that the IRS is required to 'PROVE' wrong doing Your best defense in an IRS audit is to be extremely organized with answers to almost any question they can ask and employing a tax lawyer to assist you is not a bad idea at all.
Tax forms and rules and regulations can be pretty complex and the IRS is required to be reasonable, unless of course you have been deliberately trying to defraud the government.
They seem to take an extremely dim view of this and can get quite nasty.
Even if, in the end, they tell you you do owe back taxes or they are going to levy a penalty, you still have options.
You can ask for the opion of the supervisor of the agent who audited you.
You can appeal the decision to the Appeals Board, or if you are willing to pay them, you can arrange to pay what's owed over time.
So if you think you are about to be audited, relax, go have a drink and have a good nights sleep.
The suggestion of an audit by the IRS can bring tears to our eyes.
Even if we are honest and think we have done our tax return properly, we begin to second guess ourselves.
Did I remember to enter that tip I got, should I have entered that sale as a Capital Gains, should I have told them about the old car I got from uncle Abner's estate? Sleepless nights, hot sweats and tremors are all symptoms of an impending IRS audit.
Well calm down and know that all is not lost.
The IRA audits are pretty randomly selected and it does not mean that you have done anything wrong.
It also is true that the IRS is required to 'PROVE' wrong doing Your best defense in an IRS audit is to be extremely organized with answers to almost any question they can ask and employing a tax lawyer to assist you is not a bad idea at all.
Tax forms and rules and regulations can be pretty complex and the IRS is required to be reasonable, unless of course you have been deliberately trying to defraud the government.
They seem to take an extremely dim view of this and can get quite nasty.
Even if, in the end, they tell you you do owe back taxes or they are going to levy a penalty, you still have options.
You can ask for the opion of the supervisor of the agent who audited you.
You can appeal the decision to the Appeals Board, or if you are willing to pay them, you can arrange to pay what's owed over time.
So if you think you are about to be audited, relax, go have a drink and have a good nights sleep.
