Don’t Get Blindsided by Tax Audits in East Peoria IL
We all do our best to prepare our taxes clearly, concisely and expediently. However, even when tax prep is done carefully, mistakes can occur. And if enough mistakes are uncovered in your tax filing, the IRS might trigger an audit of your taxes. Thankfully, with Martin Hood LLC by your side, tax audits in East Peoria IL are nothing to be concerned over. Allow our team to help you best prepare for your upcoming audit.
How You Should Prepare for a Tax Audit
The idea of being audited by the IRS can be stressful enough! However, now’s not the time to panic. Martin Hood will help you do everything you can to be ready for your audit. Here’s some of what you should do to best prepare:
- Gather All Documentation – You should already have most of your IRS forms, receipts, and other financial documents handy from your recent tax filing. Hang on to all documentation, as the IRS will likely wish to go over any information you have in greater detail.
- Complete All Filings – If an audit was triggered before you completed your tax filing, ensure you finish it before the beginning of your audit. If you don’t, your auditor can complete your filing instead. However, your auditor will not claim any dependents, deductions or credits you might qualify for.
- Stay On Top of Deadlines – There will be numerous deadlines associated with your tax audits, such as appointment times, due dates for information, a final day for petitioning an appeal, etc. To stay on top of your audit, you’ll need to keep up with all impending deadlines and abide by them.
- Stay Honest – It goes without saying, but ensure everything you are reporting to the IRS is as accurate as possible. Simple slips and mistakes in filing can be what trigger an audit. However, if you are lying in your filing and to your auditor, this constitutes a federal crime.
- Seek Help – If you still have concerns over tax audits in East Peoria IL, and are confused about managing your audit, reach out to the Martin Hood team. With help from our tax professionals, we’ll help you collect all necessary documentation, complete tax filings, correct mistakes, track deadlines, and negotiate with an auditor in your stead.
How Else Can We Help?
Martin Hood employs an impressive number of accountants, CPAs and bookkeepers to manage the finances of individuals, families and businesses throughout Central Illinois. As such, our clients rely on us to provide personal or industry-specific financial guidance with services like:
Call Martin Hood Today
Ensure you’re ready for potential tax audits in East Peoria IL with the guidance of tax professionals from Martin Hood LLC. To learn more about our services or schedule an appointment, contact us today at 309-322-7643. Also, we are located at 4801 N Prospect Rd, Peoria Heights, IL 61616.