Why Am I Being Audited by the IRS?

[Ashish Acharya]

An IRS audit might sound intimidating, but it's simply a review of your tax return to confirm its accuracy.

Here's how audits typically happen:

1. Random Selection or Screening: Your return might be flagged if it falls outside statistical norms.
2. Connections to Others Under Audit: If you're involved with a business or partner being audited, this can trigger a review of your return.

Key Points to Remember:

• The IRS will always notify you by mail, not by phone or email.
• Audits can be conducted through correspondence or in person.
• You can request an extension if you need more time to respond.

Pro Tip: An audit doesn't always mean trouble. Many audits result in no changes to your return. If you disagree with the findings, you have the right to appeal.

Stay calm, gather your documents, and if you're unsure, consult a tax professional to guide you through the process.

Have questions about IRS audits? Drop them below, and let's discuss! 👇

[Nathan Gesner]

An audit doesn't concern me because I follow the law and document everything. However, it's still troublesome because it can eat up a lot of time.