Preparing for your first meeting with an IRS auditor is the difference between winning and losing. Gather all your bank statements and receipts. Add them together before meeting the auditor. This way you will know in advance if there are any missing documents issues.
The IRS auditor has the right to see your home and/or business at least once. Do not become alarmed when they ask. They ask everyone. The auditor has already driven past your home and business before you even got your IRS audit letter.
The first meeting begins with disclosure of your rights and Q&A. The Q&A is to help the auditor understand your personal and business situation better. Answer questions truthfully. If you do not know an answer, say so. Do not guess. It will come back to bite you later.
After the Q&A the auditor sits down and begins working through your paperwork. Never let the auditor take your original documents with her. They can have photocopies or they can come back later. If the IRS looses your paperwork, you suffer the consequences. Therefore, you keep your original documents at all times.
Learn more about the IRS audit first meeting here: The IRS Tax Audit Process: The First Meeting
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