Info about being audited

[jjukem]

Hello,

I filed for ch. 7 a few weeks ago and got a call today from my attorney that we've been randomly selected to be audited by the Justice Dept. The attorney said this is fairly rare but not too much to worry about.

I guess I'm just a little worried that something will go wrong and I'm a little unsure as to what to include. Also, I'm unsure as to what the consequences will be if something goes wrong.

I have a sole prop business and I listed all of my profits and losses on a spreadsheet. Obviously the trustee is asking for this but I'm wondering if I need to go through and itemize every single receipt and include that or what.

Does anybody have any insight into the audit process they can share? I'm a little spooked right now and any additional info would be helpful.

Thanks.

[newbie2]

Hello,

I filed for ch. 7 a few weeks ago and got a call today from my attorney that we've been randomly selected to be audited by the Justice Dept. The attorney said this is fairly rare but not too much to worry about.

I guess I'm just a little worried that something will go wrong and I'm a little unsure as to what to include. Also, I'm unsure as to what the consequences will be if something goes wrong.

I have a sole prop business and I listed all of my profits and losses on a spreadsheet. Obviously the trustee is asking for this but I'm wondering if I need to go through and itemize every single receipt and include that or what.

Does anybody have any insight into the audit process they can share? I'm a little spooked right now and any additional info would be helpful.

Thanks.

I haven't gone through that, but from what I've read from others here it is more or less gathering a lot of documents: More bank statements, more credit card statements, etc. If you do a search on this site for the word "audit" it may pull up the threads from others who have been through this.

Good luck to you.

[HHM]

Generally speaking, you will be asked to supply 2 years worth of documentation (i.e. Profit and loss statements, bank statements, tax returns etc).