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TORRANCE TRIBUNE June 25, 2015 Page 7 TerriAnn in Torrance We’re Here to Help By TerriAnn Ferren About a month ago, I opened a large white envelope with the return address stamped, ‘Internal Revenue Service.’ My heart began beating quickly and it felt as if my throat clunked down to my stomach. As I read the letter inside, my initial feelings of doom were confirmed. The Internal Revenue Service was auditing me! The letter said, “Your Federal Income Tax return for the year shown above has been selected at random for a compliance research examination….” I was chosen at random to assist them in better serving the public. Right. It also said, “Please call the individual listed above WITHIN 10 DAYS to schedule an appointment.” I have heard that the chances of being audited are over 10 percent if you make over one million dollars. That is a laugh in my case, but you can also be chosen at random. Lucky me. Actually, I tried, but couldn’t find out how many people the IRS audits in a single year. Let me just say for the record, I have nothing to be nervous about; however, I liken the initial experience of opening the letter to driving on a freeway and suddenly being pulled over by a policeman, who then informs me that a taillight on my car is out. Just the experience of being singled out is enough to set my heart into overdrive. I remember my brother Tommy and his wife Sherrlyn were audited about ten years ago. A letter informed them also, but their audit wasn’t random. My brother told me, “The bottom line was - my gross income was off. It turned out to be a minor mistake. The first thing he [the auditor] asked for was Sherrlyn’s logbook [mileage] and said ‘this looks like the real thing.’ Then he asked for what she claimed – and she had all her paperwork. Once he [the auditor] found out where the figures were off, he made the correction, said thank you, and that was it. I wrote the check right then and there.” Then I asked my brother if the auditor was nice and he said, “He was nice.” That sounds like a pretty painless meeting. Then I asked my brother if he changed his bookkeeping after Calm down. the audit and he said, “No.” But how can I be sure my audit will be just as uneventful? Had anyone else I know ever been audited? In the days that followed, I ran my weekly errands but the audit continued to nag me wherever I went. I found myself asking those I saw if they had been audited. Someone at the local card shop told me, “That is my biggest nightmare! And don’t mention my name!” Then I called a friend who told me, “My biggest, greatest fear is being audited by the IRS – because I am an upstanding citizen!” I asked her what she was afraid of, if she was so upstanding, but she continued to tell me that they probably would make things up. Okay. All this was doing little to comfort me. Not only did people freak out when I asked them if they had ever been audited, but they categorically pronounced they didn’t ever want it to happen to them and looked at me as though I had a contagious disease. I was trying to face the situation calmly. You see I had finally talked myself into a calm place realizing I was more than ready to show all my receipts and paperwork and convinced myself that the outcome would be no problem. No sooner had I calmed myself down, using my deep breathing techniques and making sure my shoulders were down and my teeth were unclenched, then I would bump into someone who would give me the grimace of ‘yikes’ and once again it set my stomach whirling. My good friend, Gail told me her brother in law was audited and he was a nervous wreck, but in the end it turned out to be no big deal. Did all the people I spoke with know something I didn’t? Oddly, the ones who had never been audited didn’t want me to mention their names and neither did the ones who were – all except for my brother. For some reason, he didn’t flinch at telling me his story, maybe because he had a very positive outcome. Well, later this week I will be traveling to my audit appointment along with my accountant, bless his soul. I anticipate a favorable outcome with little pain. You see, I have decided to put my trust in the numbers. My son asked me, after I told him I was being audited, “Gee, mom, what about your account in the Caymans?” To which I replied, “What account?” “Exactly!” he said, “So don’t worry about it.” He had a point. Realizing I am not alone in being audited, I have some advice. Make it a point to keep all receipts, log books, and important papers gathered by year in a safe place because you never know when you might get a friendly letter from the Internal Revenue Service informing you of a completely random audit. Sleep soundly. And remember; When you open the mail and find a surprise – from the IRS, right before your eyes - double-checking figures becomes second nature; as you rethink purchases, write offs, donations, and wages. Don’t think it can’t happen, for as soon as you do – a random notice will come out of the blue just for you. Relax and remember there is nothing to fear – unless you indeed have hidden some cash somewhere, dear. • painting TKO PAINTING CO. INC. Knocking Out The Competition #833537 Satisfaction Guaranteed Great Competitive Prices FOR A FREE ESTIMATE Call Troy at 310-663-1672 24 Hour Service Since 1990 • Lic # 770059 • C-42 C-36 C-34 C20 A painting PAINTERS PLUS INTERIOR • EXTERIOR PLUS IMPROVEMENTS • REPAIRS FREE ESTIMATES LOWEST PRICES • GUARANTEED QUALITY 5 YEAR FREE MAINTENANCE SERVING THE BEACH CITIES FOR OVER 20 YEARS handyman BILL’S HOME & APARTMENT MAINTENANCE CONTRACTOR QUALITY at Handyman Prices. We cover everything from A-Z. 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