Visualize gaining a telephone call or letter from the IRS informing you that your nonprofit organization has been chosen for an audit. Through this jarring initial contact, the IRS often tells you what year it is going to examine your organization, and what knowledge its staff plans to overview. The worst aspect of an audit, yet, is the fact that the course of action is inconvenient and time-consuming. It is also fairly intimidating. But, probabilities are your nonprofit’s return was chosen for any explanation. By far the most standard audit triggers come from knowledge that is reported (or not reported) on the annual Kind 990. This section is
right here to assist.
Looking at things from theauditor’s perspective
When the IRS initiates an audit of the nonprofit, it often tells you upfrontthe challenges that it's going to be taking a look at in your return. So, it is an effective notion to appear in the products with which the IRS is concerned. Go more than these challenges with other individuals within your organization, and make sure that that the those who shall be communicating together with the IRS know the challenges that could be discussed. You should also try to figure out why the IRS is taking the position that it is.
