IRS Audits — What You Should Know and What Needs to be Done

business owner checking her books prior to irs auditsTaxes can be a tricky thing for the average person. This is why most people prefer to go to a service for the taxes. It is easier and comes with the guarantee that you do not get it wrong. But beyond that, it also puts you at less risk for an audit. Audits might be the only thing scarier than taxes for a person. This is really due to lack of general knowledge about them. Plus there is an idea that if you get audited, it means you have done something wrong. Or that you are about to get in trouble. But this is not really the case. All you need to get through an audit is some experienced help. Clifford, Ross, Raudenbush & Cooper can help you get through any IRS audits. 

What are IRS Audits?  

Before you get audited, you should know a bit about them and what to do if you get one. An IRS audit is a safety measure performed by the U.S government. Audits are checking process, meant to ensure that information is reported correctly. This does not come with the assumption that your company has been lying. In fact, most audits are done with the intention that a mistake has been made, but not an intentional one at that. In fact, it could be something as simple as misplaced number. Or that something was not claimed properly.

Responsibility is also checked during an audit. The people doing the audit will try to figure out who did what wrong, and if it was intentional. Also, having an audit done does not mean that you will end owing to the government money either. You may find that the government is the one who owes you money.

What To Do If You Get Audited

IRS audits are scary things for most people. But there are a number of things you can do that remove some of the fear. The first thing you should is not panic. Audits do not mean something bad per se. it just means a mistake has been made. And they are trying to find it, correct it, and figure out who is responsible. The second thing to do is gather all of your tax documents for the past three to five years. This would be your tax return paperwork. And any other important documents. This can also include insurance papers, land holdings, school loans and the like. After you have gathered everything, set it up and leave the auditor to it.

Let Clifford, Ross, Raudenbush & Cooper Help!

Getting an audit does not have to be scary. At Clifford, Ross, Raudenbush & Cooper, we have a lot of experience working with IRS audits. With us on your side, you should be able to get through the audit without hassle. With this in mind, remember that getting an audit does not mean you are in trouble. It can just mean that a mistake has been made. It also does not mean that the mistake was yours. The best thing to do is remain calm and let the auditor do their job. Contact Clifford, Ross, Raudenbush & Cooper today!