1 in every 25 truckers is audited by the Internal Revenue Service. Nobody likes the idea that this happens. It is true that there is a small percentage of being chosen for an audit and if this happens it may end up becoming the nightmare for you. Much has been said about these possibilities, but the risk exists and all you want is to be protected before this risk if the IRS wants to audit you.
Have you ever wondered if a truck driver, can go through an audit with the IRS?
Be prepared with all your documents, before something like this happens. Basically, the IRS will ask you to present the following documents: omega replica watches
Forms 1099s, Canceled Checks, Invoices, Receipts, Statements of bank accounts and any type of financial document, that shows income, expenses and purchases. Keep these documents for at least three years.
The steps to follow in the development of an audit are the following:
- Stay calm. At the beginning the IRS will ask you many basic questions and which you can answer without feeling any pressure. Avoid talking more than they ask you.
- Do not provide unnecessary information. Read carefully the letter sent by the IRS in which is specified what they want from you. Based on that, you will only limit yourself to that list of documents that they want to review. Avoid presenting any information that is not included in the list.
- Do not lie. Don’t lie or fabricate evidence to prove what you claimed on your tax report, this could bring you more problems.
- Carefully consider the IRS decision. Once the IRS presents the audit report, you have the right to review it before agreeing or not. And if you do not agree with this report, do not sign it. You can also call the auditor and let him know if you agree or disagree with it.
- Can I appeal the IRS decision? Yes, this is one of your rights and you can make use of it. Once you have informed the auditor about your decision to appeal to this right, the auditor will send your case to the Office of Appeals, which is an independent office to the IRS office that conducted the audit.
- Consider hiring a professional. It is recommended to hire a professional at any level of the audit, either for representation or only for advice. However, at the appeal level you can only be represented by Attorneys, CPAs, or IRS Enrolled Agents.