John Milikowsky, the founder of Milikowsky Tax Law, addresses common questions and concerns about IRS audits in this informative video. He provides crucial insights into what documents are required during an audit and how to prepare effectively to meet IRS demands.

In this video, you'll learn:

The importance of providing bank statements to the IRS and the potential consequences of not doing so.
Detailed explanation of bank deposit analysis and how it can help you accurately report your income.
The necessity of maintaining and providing transactional documents, especially when dealing with net operating losses from previous years.
Practical advice on how to prepare for an IRS audit, including what kinds of documents you should have ready and the rationale behind these requirements.
John's expertise and straightforward advice make this video an invaluable resource for anyone facing an IRS audit, or for those who want to better understand the audit process to safeguard their financial interests. Whether you are an individual taxpayer or a business owner, these insights will help you navigate the complexities of IRS audits with confidence.