how do i prepare for an irs audit 
it may seem daunting but an irs audit shouldn t worry you the agency routinely conducts audits for corporations and individuals some are selected randomly others are flagged because of certain types of income credits and deductions the best way to prepare for an audit is to keep your tax records in a location that s easily accessible for up to three years including any receipts and tax documents 6the bottom linethe idea of an audit can make people very nervous but audits aren t entirely bad despite the negative connotation individuals who are audited by tax agencies are commonly chosen at random corporate audits are routinely conducted to make sure financial statements are in line with accounting standards you ll know that the companies in which you have an interest are being honest about their financial position if you re an investor 