I Survived an IRS Audit (and You Can Too)

November 2007
by Stephanie Chandler

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I Survived an IRS Audit (and You Can Too)

by Stephanie Chandler

Although I read the letter three times, the grim news stayed the same: I was being summoned to the IRS for an audit. I had an instant flashback to the third grade when I was called to the principal’s office. I didn’t know what I had done, but it must have been something bad.

 “You have nothing to worry about,” my accountant assured me. “We have everything in order.” Because I have a broad spectrum of activities on my plate—I own two businesses, I’m a published writer, and I also work as a business consultant—I have relied on an accountant to keep my books since I began my entrepreneurial life in 2003.

The letter indicated that I needed to bring several items to the audit, including bank statements, credit card statements, the prior year’s tax return, and charitable contribution receipts. To my great relief, my accountant informed me that she kept copies of all of my statements. I had them too, but mine weren’t exactly in good order. I subscribe to the shoebox method of filing. It would have taken days for me to locate everything I needed.

I put the appointment out of my mind until the day before, and then the nerves set in. Although I kept reminding myself that there was no rea…IBPA Members – Click here to view the full article (login required).

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