IRS

Have you recently received an IRS audit notification and are unsure how to proceed? Dealing with the Internal Revenue Service can be a daunting prospect, leaving many small business owners feeling overwhelmed and unsure of the next steps to take. With so much at stake, it pays to arm yourself with as much knowledge as possible beforehand. Rahul Gandhi CPA has put together some great insider tips that will help guide you through the painstaking process of responding to an IRS audit – from preparing your documentation before speaking with representatives right through to when and how you should respond. Read on for all the information you need! Rahul Gandhi CPA’s Tips For Dealing With An IRS Audit 1. Understand the audit process: It is important to understand the process of an IRS audit and the different types that can be conducted, such as in-person field audits or correspondence audits. In this way, you will know how long it typically takes for an audit to go through and what documents you may need to provide. According to Rahul Gandhi CPA, you should also be aware of potential consequences; a financial penalty or even criminal charges could result from an audit, depending on its outcome. 2. Gather documentation: The IRS will request several documents during the course of your audit, so it’s best to prepare ahead… Read More »Great Insider Tips For Dealing With An IRS Audit By Rahul Gandhi CPA