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Home | Business | Accounting I remember the contractor that I visited in his onsite office location. As I walked through the office, I saw a computer in the office. I said, “Nice computer”. The contractor then responded, that he never knew how to really use the computer except for playing games. Unknowingly, this contractor just admitted that he was not entitled to $3,000 worth of deductions. Just in case you are still set on representing yourself, then I suggest these strategies for handling the IRS audit: 1. You should understand the procedures for the IRS audits and appeal procedures, 2. Do not volunteer information to the IRS and pretend to be helpful, 3. The IRS will be focused on certain items in your return, stick with the issues under audit, and provide the agent with proper documentation for the expense or income item claimed, 4. Do not allow the IRS to go on fishing expeditions into areas that fall outside the audit. 5. If your return was prepared wrong, discuss the situation with a qualified professional. We all make mistakes. If the mistake was innocent, then admit the mistake and go on. Article Source: http://www.articlewheel.com
Alan Olsen is the managing partner at Greenstein Rogoff Olsen & Co., a top Bay Area CPA firm. He focuses on developing innovative strategies for business enterprises and individuals. A specialist in income tax planning, he frequently lectures and writes articles on tax issues for professional organizations and community groups. His website is ranked among the top in the nation for accounting firms, featuring tax tools and business leadership articles: www.groco.com
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