Money Q&A

Q. Help! I’m being audited by the IRS. What should I do?

A. The first step is to educate yourself about the process. Read IRS Publication 556, which can be found at www.irs.gov. It spells out your rights and explains how an examination of returns, as the IRS calls an audit, works. You’ll need to decide whether you want to handle the matter yourself or hire an attorney, accountant or enrolled agent, which is someone licensed to practice before the IRS. Generally, enrolled agents are the least expensive.