If you befall the misfortune of getting a tax audit, you should really pay attention to some of the tips we’re about to show you. These tips will help you to make it through your tax audit. Stick with these them and you’ll be just fine.
· One of the first and most important things you need to do is consult a tax lawyer who is willing and able to handle the complex nature of a tax audit. They will examine your financial records, identifying errors and omissions, avoiding interest charges, additional penalties, criminal charges and more.
· Never ever, ever give any information to your tax auditor voluntarily. Just give direct answers to the specific questions that ask you, because if you give the auditors too much information, it’s likely that they’re going to use it to their advantage at some point.
· If you aren’t sure about something the auditor has asked or requested from you, then it’s better to stay quiet, take a note of the question/request and consult your tax lawyer.
· Ensure that you don’t let your guard down with the auditors, no matter how simple and unimportant the auditors make your conversations seem.
· Learn about your rights that have been published by the CRA in the Taxpayer’s Bill of Rights and put them into position.
· Be bold enough to appeal the audit’s results if you feel like there was a mistake made or if you were unfairly audited.
· Ensure that you stay organized, maintaining your financial records so that you can prove the amount of taxes that you are submitting.
· Create copies of the original financial records, so that if by chance they are lost or misplaced by the CRA agents, you’ll still have a backup.
· Despite the fact that you’re feeling tense or stressed out, be polite to the auditor, because lashing out at the CRA agent just won’t make things better for you.
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