If you receive a notice from the IRS, the first thought that crosses your mind is probably, “What do I do now?” Most importantly, do not panic! We sat down with Sam Kerch of Ask CPA Sam to discuss what you should do if you’re ever being audited, and left with these 4 steps:
- Don’t panic . This step warrants being said twice. The last thing you want to do is immediately call the IRS without fully comprehending the consequences or importance of the situation, which leads us to the next point…
- Get professional help . Get professional help immediately. Chances are, you don’t know the ins and outs of every tax law and regulation in existence. In addition, you do not want to overshare information, which can happen when you’re nervous!
- Get your paperwork together . While we can’t tell you exactly what paperwork you will need because it depends on your unique situation, we’ll give you a couple of ideas. You may need check stubs, receipts for deductions, proof of income, any receipts for mileage – basically anything at all that could be used as proof of something you claimed on your return.
- Avoid it from the beginning – prevent getting audited by hiring a tax preparer . The easiest way to avoid being audited in the first place is to hire a tax preparer. A certified tax preparer is your key to avoiding fines, fraudulent activity, and knowing exactly where everything you need is if you ever get audited. This individual will have the correct documentation and understand why you filed the way you did.
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