How To Prepare for a Tax Audit
By Jeff Wuorio For the Deseret News
Published: Monday, April 13 2015 2:00 p.m. MDT
April 15 is understandably unnerving for many taxpayers. For others, it’s the rest of the year that really makes them jittery. A tax audit — when the Internal Revenue Service notifies you of its intent to examine your tax returns in detail to make sure that your reporting of income, deductions and other details is accurate — has taken on the mistaken spectre of torture by relentless government agents. Less than 1 percent of taxpayers are audited. But if you’ve received an audit notice from the IRS or are just jumpy about the possibility, there are ways to make the process a good deal less harrowing.
Most auditing pros won’t let their clients even see an IRS auditor; and in rare cases, the taxpayer can come out ahead. “Once, I was able to get a client a $40,000 refund,” said Cari Weston, a senior technical manager with the American Institute of Certified Public Accountants. “But, for the most part, audits are very run-of-the-mill and straightforward.”
Continue reading the article by Jeff Wuorio that includes Schneider’s comments, Don’t ignore the notice…..