Summary
The article explains what happens if the IRS audits a taxpayer's return. It describes what can trigger an audit, how the audit process works, and stresses staying calm and organized.
Key Facts
- An IRS audit checks the accuracy of a tax return.
- Audits are rare, occurring in only 0.2% to 0.5% of returns each year.
- Typically, the IRS starts an audit with a letter, not a phone call or email.
- Taxpayers need to provide documents like W-2s and receipts during an audit.
- Most audits happen by mail but can involve in-person meetings for complex cases.
- The IRS compares submitted documents against the original return.
- Possible audit results include no changes, owed taxes with penalties, or a refund adjustment.
- High-income earners and self-employed individuals are more likely to be audited.
