It's the envelope no taxpayer wants to open: an IRS audit notice. What should you do if one arrives? Curl into the fetal position? Run? Freak out? "Don't panic," advises Bob Meighan, vice president of ...

It’s unlikely that you’ll be audited — the IRS audits less than 1% of the tax returns it receives. If an audit notice does show up, though, tax pros say there are a few basic steps you can take to ...

As the sun rose April 18, millions of Americans woke with a sense of relief. Tax day had come and gone, the tax forms having been duly deposited in the mailbox the day (or night) before. For those who ...

The word "audit" can cause immediate worry. When a letter comes from the Internal Revenue Service (IRS), the fear and uncertainty can be overwhelming. However, an audit just means that the IRS wants ...

A tax audit is an examination of an individual or business tax return by the IRS to ensure the taxpayer has accurately reported income and paid the correct amount of taxes. Tax audits can be triggered ...

Getting your Trinity Audio player ready... Last year I wrote an article on eight tips for avoiding an IRS audit. This year, I want to give you some advice on what to do if you receive an IRS audit ...