Randolph Law Firm, P.C.

Tips for surviving audits from the IRS

Sometimes, even the most conscientious of us will find ourselves facing an IRS audit. Being targeted for audits by the IRS does not have to mean headaches and stress for Nevada residents this tax season, however. There are ways to help minimize the potential frustration and ensure the audit goes smoothly. Here are a few suggestions.

Over 70 percent of audits are done through correspondence, which means you will receive a lot of paperwork in the mail. It is important for Nevada residents to address this paperwork for any audits immediately, paying careful attention to the areas of your tax return that have caught the eye of the auditing agent. Remember, ignoring the letter or putting it off only puts you at risk for missing critical due dates.

It is important to proceed in an orderly manner when dealing with an audit. Generally it is good practice to keep your tax files from the last three years for easy access should an audit occur, so organizing that information is a key first step. Staying calm is also a good idea, because stressing out will only lead to careless mistakes. In addition, if you do end up owing money, it's beneficial to pay on time or, if this isn't feasible, to seek out a payment plan that will work for you and your budget.

As most Nevada residents are sure to know, taxes can be a complicated process to begin with, and the pressure of audits only serves to make life more difficult. It may be of benefit to you to seek out assistance in dealing with an audit situation. This can help to alleviate your stress and avoid errors that could only prolong an unfortunate process.

Source: CNN Money, "How to survive a tax audit by the IRS," Blake Ellis, April 24, 2013

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