No one enjoys the thought of being audited by the Internal Revenue Service (IRS). No one wants to receive a letter from the IRS. While not common, it is important to remember that audits are a routine part of the tax process. According to the IRS, for all returns filed for tax years 2012-2020, 0.49% percent of returns were audited. At Boelman Shaw Tax & Financial Planning in Des Moines, Iowa, we understand that facing a tax audit can be stressful. That's why we've created this helpful guide to surviving a tax audit, which will outline the steps you should take to navigate the process with confidence and ease.
Do you get that sinking feeling in the pit of your stomach when a letter arrives from the IRS? If so, you’re far from alone. The good news, however, is that the letter is probably nothing to worry about.