Why Irs Audit
April 14th, 2008
Question: irs audit before i can amend my return?
I made number errors that will trigger red flags in my schedule c returns but it was too late to amend. the irs has already ask me the come in for an audit.
Answer: Carefully and clearly document your income and expenses. Have all your bank statements and receipts for expenses together. The audit should focus on a limited number of items. You should document each number and if you can't backup the number you put on your return be prepared to explain why. If you are honest and upfront with the auditor they may decide not to expand the audit into other areas/years. If the errors are large (15% of income or more) then you may wish to spring for the EA or CPA to represent you.
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