An IRS audit is not a pleasant thing to go through due to the fact that it is troublesome, time consuming, and in many cases certified letter from irs, quite expensive. It is an advantage to hire a IRS tax lawyer if you are being investigated. Another thing to do is to collect all pertinent paper work, specifically if you own a business. It is best to gather all financial documents for the year prior to and after the year of audit, and the existing year. You must likewise gather all documentation that can be used to show legitimate tax reductions or tax credit that you may have claimed when you filed your return.
Constantly keep copies of all your files to hand over to the IRS because it makes things a lot easier. The IRS agent will prefer to fulfill the taxpayer in their house or place of business. The factor is that the IRS representative can request extra documents on the spot instead of having to turn to a time consuming process like correspondence. Given that this is convenient to both the tax payer and the IRS it is a smart idea to fulfill the IRS agent where you can easily collect all files as may be required.
Taxpayers are also rarely aware of the genuine role of the IRS inspector which is to assess the optimum quantity of tax that the person under the IRS audit is to pay. This leads to the tax payer being totally surprised when the results of the audit return a month later. You must be clear about exactly what is being done by talking things over with the IRS inspector.
Another thing a IRS tax attorney can do for you is to double check all your returns and supporting files and ensure you did not leave out anything. Individuals owing taxes usually do not take advantage the interest or dividend payments from their small savings accounts or financial investments. A number of us also forget to state these products because the investment company did not send them the required files. There need to be no undeclared income in your documents and in case there is you must have all the supporting documents to discuss why it was not reported.