What to Do When the IRS Audits You

American Thinker ^ | 3 Sep, 2024 | Bruce Willey

[MtnClimber]

When a hurricane is coming, you board up the windows. When the IRS is planning a storm of audits of people who look just like you, you need an audit response plan.

The IRS has been dropping a new press release with an explicit threat to the bank accounts of successful Americans every other month or so. Their messaging sounds increasingly political, and high-income taxpayers would be foolish to ignore what they’re saying: the IRS plans more audits of successful Americans to force them to pay more taxes.

When a hurricane is coming, you board up the windows and stock up on bottled water. When the IRS is planning a storm of audits of people who look just like you, you need an audit response plan.

The IRS and the Biden administration keep repeating they’re targeting “the wealthiest Americans,” with incomes of $400,000 or more, but actual audit data say that right now, 63% of all new audits are focused on taxpayers with less than $200,000 of income. So maybe more than just the “wealthiest Americans” ought to be thinking this audit response planning, too.

So, considering those preparations, the first principle is this: don’t cower in fear. Know your opponent, anticipate their actions, and plan a response. In this situation, the IRS is your opponent. Knowledge about its agents and their process is power for you.

The IRS has a revenue maximization strategy in place — it’s been very public about it — and it wants cowed taxpayers to knuckle under and “pay their fair share.” It wants to “close loopholes” when the fact is, legal loopholes are created in the tax laws, and tax laws are the province solely of the U.S. Congress.

The IRS likes to audit people it thinks it can get serious money from....

[Georgia Girl 2]

Of course not. It will never happen.