VIDEO TRANSCRIPTION – What are the do’s and don’ts of an IRS audit? An IRS audit may be one of the most stressful events in one’s life. It may cause you to lose your appetite, lose sleep, even may cause relationship problems with your spouse.
I’m going to show you some of the ways to navigate through an audit and hopefully come out on top. Hi, I’m Steven D. Cooper, also known as Coach Coop with Cooper’s Accounting Service because your financial freedom matters.
If you’d like to learn more great tax tips, download our popular financial guide at our website, yourfinancialfreedommatters.com or click on the link below. Let’s go through some of the dos first. As a tax advisor, we want to create credibility first where they trust us and we’re knowledgeable of your audit and why you’re being audited and how to represent you.
Second, we wanna have where clients have credibility, where they’re people of integrity, and just being honest and forthright. Why this order? As we’re the ones who are primarily gonna be engaging with the client, we need to build the trust first. Next one, give the auditor what he or she asked in the timeframe that they asked for.
If you cannot make the request, explain to the auditor why. Some examples could be a death in the family, could be a vacation, or it could be for medical reasons. Also, have the auditor conduct all business at your representative’s audit, which is going to lead to the do-sides of this. You do not want the auditor to ever come to your house. You can be judged upon the neighborhood or even a car that you drive.
higher competent person that also has a qualified license. They may have to present that license to the auditor as well. Don’t ever get into an argument with the auditor. You have appeal options, such as you can request another auditor or you can talk to their supervisor.
Never think you better than the auditor, or smarter, or richer. That’s just rude and impolite.
As we have discussed this with a few of our clientele and also new clients when we’re talking to them either on the phone or they come and do an in-person visit, we just want to let you know the do’s and don’ts. For more easy financial tips, sign up at our financial newsletter by going to yourfinancialfreedommatters.com or click on the link below this video.
You can also download our financial guide as well. If you like a free 20 minute smart money consultation, call us at 562-436-2600. Well again, I’m Stephen D. Cooper, also known as Coach Coop with Cooper’s Accounting Service. So don’t miss our next video. We’ll cover what is a tax resolution.
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