For most people, getting a tax audit by the IRS can be a scary and stressful situation, but with proper preparation getting through a tax audit may be easier than you think.

The first thing to keep in mind is that you do not want to ignore the letter from the IRS asking for a tax audit. You want to respond right away. You can seek assistance from a tax professional, or do it yourself.

Seventy per cent of audits are just letters from the IRS asking you to mail in more information about your tax returns, such as your 1099 forms or receipts for your business expenses. Once you mail in the required forms the IRS will decide if you owe any additional taxes, and will provide instructions on how to pay, if necessary.

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Once your meeting with the IRS is done, the agent will go over any tax penalties you may owe. You can either sign the form and agree to pay, or have the assessment reviewed by the agent’s supervisor. If the supervisor agrees with the agent, your only option at this point is to take it to court, at which point you will probably want the assistance of a tax lawyer.

Tax troubles? Facing an IRS audit? Contact Saint Louis Tax Accountant James Coats for assistance with your tax troubles. (314) 645-1614.