Key W Tax: Incometax & Finances

If you have received correspondence in the mail from the IRS that you have to go through some type of tax audit, there's a chance you're probably scared silly. Remember, the IRS doesn't want to hassle you, but they do need answers to questions that they may not understand. They're not accusing you, they just need a few answers.

After you have read the letter through and gotten over being scared silly, it's time to pull all of your IRS tax filing forms for the year in question. You'll want to look at them very carefully. You want to see where exactly the misunderstanding may have occurred. It may be that something is in the wrong column, or even a decimal point that got placed wrong.

You'll then want to take a look at any and all of your deductions. You want to make sure that all of your deductions can make sense to the IRS. You want to go through the paperwork, and also, get any documentation ready that can provide an explanation for these types of deductions. In fact, most of the time this is what the IRS is going to be asking you about, your deductions. If you are in one of the higher tax brackets this may be an issue as well.

If you did not file your paperwork yourself, if you add someone help you, it is now time to contact them. Often, when you pay for IRS filing services you're guaranteed no mistakes. This means they may owe the difference between what you have already paid, and what the IRS is going to charge you.

Make sure that you do respond promptly to any correspondence you receive from the IRS. Remember, while you are probably scared silly it's not as bad as you think. Just get together all of your forms, make sure that you have all of your documentation together and all of your receipts in an easy to read format.

Also, any questions that you may have for the ire are asked can often be answered through e-mail, or possibly even by using your phone. Whatever you do, don't be frozen solid, don't be scared to death, you just need to explain what ever it is that the IRS is confused about.

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